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(1) Be Careful, Inflation Expectations Are Not Anchored! (6 min read)
The inflation expectations of firms are an important input into the Fed’s current and future inflation forecasts. A new academic paper explains why current surveys of professional forecasters and consumers are not a good proxy for these expectations.
(Sam van de Schootbrugge│ 2nd June, 2021)
The pricing of carbon risk in syndicated loans: which risks are priced and why? (BIS, 24 page read)
Euro area sovereign bond risk premia during the Covid-19 pandemic (ECB, 34 page read)
High-Frequency Estimates of the Natural Real Rate and Inflation Expectations (FED, 25 page read)
Can the Market Multiply and Divide? Non-Proportional Thinking in Financial Markets (Journal of Finance, 34 page read)