Inside the Investment Committee: The 2016 big short in fixed income (Macro Voices, 62 mins). Good review of 2016 rates markets. On current markets, skip to minute 49. They are now neutral/bearish US rates. Main disagreement is whether the US is following Japan or about to a fiscal/bond blow-out.
Paris special on European banking (FT Banking Weekly, 26mins). Gets interesting from 9 minutes – France central banker describes how firms have moved climate risk from CSR to risk functions. Other speakers talk on how Brexit has already happened as Europe now is multiple financial centres.
UBS’s Harford: We’re In 4th Inning of Consolidation (Bloomberg P&L, 28mins). UBS says asset management will see more disruption. Others on podcast argue that Trump is using trade war to force Fed to cut rates, and a legal challenge to Facebook and Google may struggle.
Russ Roberts on Life as an Economics Educator (Conversations with Tyler, 61mins) Long podcast but wide-ranging and fun. Roberts argues that widening inequality is more to do with changing household structures (divorces) than economics, how a suicide epidemic in the US is being ignored and how prizes are the best source for driving innovation.
Re-Kindled: Where Are the Customers’ Yachts (Animal Spirits, 38 mins) The podcasters review the classic 1940 book Where Are The Customers’ Yachts by Fred Schwed. A fun listen. The punchline: investors know nothing and investors can’t predict the future.
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