The UK’s ONS admits an error again. Is ‘The Wedge’ poised to go even higher?

Bond Vigilantes 19/01/2018  

The Financial Times today ran a story that the ONS has admitted errors in its measurement of the telecoms sector. It seems that the ONS has effectively been focussed on… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


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What a difference a year makes! UK smallcap 2017 review

Equities Forum 13/12/2017  

When I sat down to write my review of 2016 I had to admit that it had been a tough year for smaller company fund managers as the sector’s median… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


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Trump should reappoint Yellen. Also: credit spreads are tight, Tesla, Laffer’s napkin and other stuff.

Bond Vigilantes 18/10/2017  

The Fed Chair choice should be obvious for Trump.  Yellen all the way.  I don’t understand why he would choose Taylor. President Trump is likely to announce his choice for… Read more »

The 2nd largest bailout in British history and its economic effects

Bond Vigilantes 06/09/2017  

The Slavery Abolition Act of 1833 formally freed 800,000 Africans who were then the legal property of Britain’s slave owners. What is less well known is that the same act… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


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Can the slowdown in UK life expectancy save company pension deficits?

Equities Forum 25/08/2017  

Earlier this year, data from the UK’s Continuous Mortality Investigation Mortality Projections Committee showed that life expectancy improvements have slowed dramatically. Initially thought to be a blip in the data,… Read more »

The nonsense of pension fund accounting

Equities Forum 11/08/2017  

Last October, my colleague Tom Dobell wrote about the absurdity of how companies are forced to treat their long-term pension liabilities. After another couple of reporting periods characterised by falling… Read more »

BVTV: Europe’s turn for positive surprises

Bond Vigilantes 15/05/2017  

The Eurovision song contest may be over for another year, but Europe’s capacity to surprise could well continue. Tune in to the latest edition of BVTV, where Anjulie Rusius joined… Read more »

Where is UK growth going to come from? Our take on the IFS Green Budget

Bond Vigilantes 14/02/2017  

The IFS (Institute for Fiscal Studies) Green Budget hit the headlines last week with its forecast that, over the course of this parliament, the UK tax burden is set to… Read more »

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.


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Mortgages and monetary policy in the US and UK

Bond Vigilantes 08/02/2017  

The cost of new mortgage borrowing and payments on outstanding household debt can have a large impact on the rate of growth of an economy. For this reason, central bankers… Read more »