US Rates – What to Consider beyond the Reflation Narrative?
The trajectory of US interest rates depends on changes in expectations over its i) term structure and ii) term premia. We explore what truly matters for rates f...
Category: Rates
Thoughts on the Fed’s New AIT Framework
1. Negative real rates essentially becomes an explicit policy objective. 2. The new policy introduces an element of a ‘make-up’ strategy to inflation but charac...