bond yield normalisation Archives

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Bond yields are rising, but more importantly normalising

Bond yields are rising, but perhaps more importantly, they are also normalising. Yields are rising, not because inflation rates are higher, but because of liquidity imbalances between borrowers and lenders. Where inflation fits into this process, is as a catalyst for returning the pricing of capital back to markets by removing the headroom of central […]

The power of one – WWG1WGA

No, I’m not referring to Qanon, but to the US Federal Reserve. Those central banks out there who thought they could get a free ride behind the Fed’s excessive monetary easing for a decade and a half, are now discovering that it came with a price, when the Fed started to pull back some of […]