All Episodes
Bondcast - The Rates Podcast — 228 episodes
The Week Ahead: 24 – 28 August
Speakers' Corner: What to make of the 2026 energy price shock?
Bondcast Speakers' Corner: AI, productivity and market risk
The Week Ahead: 20 – 24 July
Higher oil prices again, but what next for rates?
Bondcast Speakers' Corner: Geopolitics and markets in summer '26
The Week Ahead: 13 – 17 July
Are markets too quick to price more rate hikes?
Speakers' Corner: Are markets too optimistic on oil and global shipping?
The Week Ahead: 6 July – 10 July 2026
A deceptively important week for rates markets
Speakers' Corner: Leverage ratios, gilt demand and the future of UK funding
The Week Ahead (29 June - 3 July '26)
Peak optimism and calm markets
The Week Ahead (22-26 June '26)
Rates on hold, but likes for hikes
The Week Ahead (15-19 June '26)
From Middle East headlines to central bank decisions
Hawkish talk, headlines and more tariffs
Is the Fed changing the rules?
Number five is alive in long-end rates
In conversation with Huw Pill
ECB expected to hike, but less certainty with the Bank of England
Central banks held rates, but what to take from the details?
Central banks may be on hold, but for how long?
Calmer markets, but not a simple reset
US-Iran ceasefire leaves markets eyeing another battle: the war on inflation
More geopolitics, more inflation and more rate moves
Back to the hold routine, but for how long?
War, peace and rate expectations
What's happening in the Middle East, and how are markets affected?
What to make of the US tariff decision?
UK treasury yields retreat, but oil is another matter
UK political risk, euro supply and US jobs data
What should markets make of Warsh?
A cut in the US, but what’s in store for UK rates?
The Year Ahead 2026: When all is Fed and done
Decisions, decisions for central bank policymakers
All about cuts
What’s behind the market rally?
Our take on the crises in France and the US
What to make of the US shutdown
No alarms and no surprises
Mixed messages from global central banks
Bond markets go back to school
A cut for UK rates in August, but will the Fed follow suit in September?
A hold in the US, but the devil is in the details
Central bank spotlight
UK and US policy in the spotlight
Complacency, complexity and complications
Where there's a Bill, there's a way
Normal service resumes?
Interest rate holds and global uncertainty
Italy's hot, but France not so much as spreads near to zero
What to expect ahead of UK and US rate decisions
ECB on summer break, but what about the UK and US?
Japan, UK issuance, and another tariff re-de-escalation
A curse on curves?
Growth returns, but what about inflation?
A hawkish cut and a hawkish hold
De-escalation helps markets, but UK yields remain high
What to make of recent market events?
The market reacts to tariffs, but where to from here?
UK Spring Statement, market signals and more
Unchanged melody?
Risks have returned, but will the shocks continue?
A cut in Europe, but questions abound
Geopolitics, markets and military might
Europe will emerge stronger?
Strong US labour data, but the Fed remains patient
The trade war whiplash
A hold, a cut and pension fund tweaks
Dilemmas, Donald and de-risking
“One swallow doesn’t make a summer” (16 January '25)
Rising borrowing costs in the UK, but is it alone?
The three kings of central banking: ECB, Fed and BoE
A new French PM, future cuts by the ECB and US employment data
The Year Ahead 2025: Rates markets and the fiscal cliffhanger
US election special: what the Trump victory means for markets (8 November '24)
UK Budget breakdown, euro news and the Fed’s post-election mindset (1 November '24)
Betting markets, a big Budget and a dovish shift
Data dependence, dovishness and the devils in the details
US inflation data, higher UK yields and eurozone analysis
New UK fiscal frets and old French fears
European spreads, a Labour conference and new US data (27 September '24)
In the end, a 50 basis point cut
25 basis points or 25 basis points?
US jobs jitters and finally, a French PM (06 September '24)
A cut and a hold before we break for summer
Rates markets in the Veep State (26 July '24)
Summertime sadness? (19 July 2024)
No victory lap just yet (11 July 2024)
Politics is in focus everywhere
Elections preview: The UK, France and market pricing
A hold in UK rates, but a dovish set of minutes - 21 June '24
Elections, market confidence and a Fed update - 14 June '24
7 June '24: A cut in Europe and expectations for the Fed
31 May 2024: Politics, markets and the run up to a likely cut
Election surprises and expectation overshoots
Are the prints charming?
What monetary policy divergence could mean for markets
A Fed hold and imperfect markets
Led by the Fed?
Questions of level and time
Stronger for longer
Slow and steady
Hold news
Unchanged, unchanged, unchanged
Sticking to our base cases
Looking ahead to the UK's Spring Budget
Ready for retail?
After a big data week, where are markets headed next?
Dates, data and client views
More clues about cuts
Market reactions (and overreactions)
All eyes on the data
Quantitative Tightening, fiscal questions and circling doves
How has 2024 started?
Hold school
Great Expectations...
Might rate cuts come early?
Year Ahead update and reactions to the Autumn Statement
What does monetary policy divergence mean for fixed income?
Shifting sentiments
Meeting notes
Holding tight
Data's back in the driving seat for rates
Restriction territory
Highs and woes
Ahead of the curves
Holding patterns
Mount Everest or Table Mountain?
Catching up, and looking ahead
See you in September
With the Fed and ECB out of the way, all eyes on the BoE
How will falling inflation feed into central bank decision-making?
With inflation in the driving seat, where to for markets?
How much higher can gilt yields really go?
What should we make of Sintra and this week's data?
What do changing central bank reaction functions mean for markets?
Where are rates heading after this week's central bank bonanza?
What should markets expect from the Fed and ECB in June?
Euro Area inflation turns, gilts outperforms, and a US debt ceiling deal’s in sight
Are we in for a hot, sticky summer (for inflation)?
Suffering for conviction
Are more rate hikes from the Bank of England on the horizon?
With fresh rate hikes delivered by the Fed and ECB, will the BoE follow suit?
The ECB looks likely to hike but will the Fed hit pause?
With inflation stickier than expected, are fresh rate hikes all but guaranteed?
Are markets right to build back rate hike expectations?
It’s never a quiet week in rates markets
With fresh hikes signed, sealed, and delivered, where do rates go from here?
Caught between financial stability and inflation, which will central banks choose?
The UK Budget, Fed speak, and what to expect from the ECB
As rates near our targets, will momentum turn from here?
What the latest data does (and doesn’t) mean for inflation and central banks
Fresh data with a side of supply
Hawks gonna squawk
With a trio of hikes delivered, where will rates head from here?
As central banks climb towards peak rates, what risks should markets care about?
Cooling energy costs, mixed data, and the BoJ's pushback
Is inflation really in retreat?
Data, supply, and new year quirks
Central banks end the year on a hike note, will bond markets curb their enthusiasm in 2023?
The Fed, the BoE, and the ECB - oh my!
What's the deal with the latest rally?
The Year Ahead special - what's driving rates in 2023?
Is the policy pivot back on?
Can central banks have their cake and eat it, too?
Rate hikes, supply spikes, and a closer look at data
Political twists and tightening bits
Fiscal or monetary policy pivot?
The old LDI (of Threadneedle Street) is for turning
The dust settles in the UK (for now), where to for fixed income?
What does the latest hiking cycle mean for bonds & FX?
Rates are shooting higher, faster - how will bond markets respond?
Big changes in the bond supply picture are afoot
See you in September
Summer markets? What summer markets?
In a battle between inflation and growth, the BoE chose inflation - what's the impact on the policy outlook?
'Data dependent, meeting-by-meeting' is the new central bank mantra
Markets and central banks are in an inflationship, but it's complicated
When inflation bites and geopolitics spikes, where do bond investors go?
What. A. Week.
When volatility is high and conviction low, where should bond investors go?
Have we reached peak inflation - and what does that mean for investors?
Markets are breaking up... it's not me, it's EU (and US)
Europe's getting more hawkish, what will the Fed and the BoE do?
Markets are more settled but tension between growth & inflation puts tightening in the spotlight
Are markets convinced that central banks can keep inflation in check?
Does US inflation put 75bp hikes back on the table?
Markets are taking UK and US rate hikes well, so why are European spreads volatile?
Hawks and doves are in full flight - how will they land at the Fed and BoE meetings?
Most roads lead to higher rates - how will markets respond?
In a game of chicken, who blinks first - central banks or inflation?
The Fed is putting the pace of quantitative tightening in focus globally – what does that mean for bond markets?
Will taming inflation come at the cost of growth?
Inflation and supply are in the driving seat - how is that influencing our outlook for rates?
Central bank rate forecasts look cloudy with a chance of monetary policy divergence
Uncertainty is rising – but monetary hawks seem undaunted
On crisis and conviction – how should investors think about bond market volatility from here?
How geopolitics could influence the monetary tightening path – and what that means for markets
Will central banks overshoot to calm inflation?
Monetary hawks are soaring high, but are markets pricing excessive rate hikes?
With major central banks spooked by inflation, where to next on the global tightening path?
Rate hikes, geopolitical spikes, and volatility strikes – another big week for bond markets
Bund yields FINALLY crossed over into positive territory – where to from here?
Detours on the path towards normalisation
A hawkish surprise, supply dynamics, and quantitative tightening
The hawks are winning at Angry Birds – what does this mean for rates markets in early 2022?
What we expect from the big three central banks in December and how markets could react
Year Ahead Edition: What does 2022 hold for rates & currencies?
Why we may see higher yields yet
Are the stagflation and policy mistake narratives overdone?
Tinker, Taper, Steeper, Sigh
For monetary policy hawks, birds of a feather flock together – except for the ECB
Are investors and central banks diverging on the path towards monetary policy tightening?
Should investors be worried about central bank missteps?
Green gilts, corporate inflation fears, and US political deadlock
How hauliers, energy prices, and politics are driving rates markets
Central banks are getting spooked by inflation – should investors be worried?
Upcoming central bank meetings, European inflation and other potential surprises in rates
The ECB takes some PEPP out of its step – what does that mean for markets?
What could the upcoming ECB meeting & US jobs reports mean for markets?
Bondcast: should markets expect higher yields from here?
Bondcast: labour, inflation, or politics – what’s ultimately going to move bond markets in September?
Bondcast: as central banks gear up to tighten, will the economy throw markets a yield curveball?
Bondcast: monetary policy hawks are circling but bond yields are falling… why?