Bondcast - The Rates Podcast

Uncertainty is rising – but monetary hawks seem undaunted

Imogen Bachra and the NatWest Markets team of specialists – Giles Gale for Europe, Jan Nevruzi for the US, and special guest Brian Daingerfield – discuss the European Central Bank’s hawkish surprise, what to expect from the Fed, and the outlook for oil & gas. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions you’d like answered on the podcast, reach out dir...

On crisis and conviction – how should investors think about bond market volatility from here?

John Briggs and the NatWest Markets team of specialists – Giles Gale for Europe and Jan Nevruzi for the US – discuss the impact of the Ukraine invasion on bond markets, central banks, and what recent market dynamics suggest about the path for volatility in the days and weeks to come. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions you’d like answered on the p...

How geopolitics could influence the monetary tightening path – and what that means for markets

Could the escalating crisis in Ukraine sway central banks to tweak their monetary tightening plans? Imogen Bachra and the NatWest Markets team of specialists – Giles Gale for Europe and Jan Nevruzi for the US – discuss the impact of rising geopolitical risk on market pricing and central bank policy expectations. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions...

Will central banks overshoot to calm inflation?

It’s been a week full of policy chatter across the globe. Get our take on next central bank rate moves and how markets might react from the NatWest Markets team of specialists – Giovanni Zanni for Europe, Ross Walker for the UK and Jan Nevruzi for the US. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions you’d like answered on the podcast, reach out directly or...

Monetary hawks are soaring high, but are markets pricing excessive rate hikes?

In this episode of Bondcast, guest host John Briggs and the NatWest Markets team of specialists – Giles Gale for Europe and Jan Nevruzi for the US – discuss whether markets are fairly pricing the rate hike and inflation outlook. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bondcast@natwest.com . NB: This was recorded on 9 February 2...

With major central banks spooked by inflation, where to next on the global tightening path?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of specialists – Ross Walker for the UK, Giles Gale for Europe, and Jan Nevruzi for the US – discuss our new rate hike expectations across the G3 and potential implications for bond markets. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bondcast@natwest.com . NB:...

Rate hikes, geopolitical spikes, and volatility strikes – another big week for bond markets

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Theo Chapsalis for the UK, Giles Gale for Europe, and Jan Nevruzi for the US – discuss our new rate hike expectations in the US, potential implications for UK and European bond markets, and rising geopolitical volatility. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions yo...

Bund yields FINALLY crossed over into positive territory – where to from here?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe and Jan Nevruzi for the US – discuss big bund market shifts on the horizon and inflation dynamics in the UK and US. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bond...

Detours on the path towards normalisation

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – discuss our revised US monetary policy outlook, and the impact of a huge shift in UK and European inflation expectations on markets. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg...

A hawkish surprise, supply dynamics, and quantitative tightening

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – share their views on how markets are responding to the latest Fed minutes, Q1 bond supply and pricing dynamics in Europe and the UK. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg...

The hawks are winning at Angry Birds – what does this mean for rates markets in early 2022?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – discuss the final central bank meetings of the year in each region and share their views on key implications for fixed income in 2022. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloombe...

What we expect from the big three central banks in December and how markets could react

In this episode of Bondcast, John Briggs and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – share their expectations for what the European Central Bank, the Fed, and the Bank of England will discuss at their final meetings of 2021 and how markets could react. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, r...

Year Ahead Edition: What does 2022 hold for rates & currencies?

In this special Year Ahead episode of Bondcast, Imogen Bachra, Giles Gale, and Paul Robson share their perspectives on the global rates & currencies outlook for 2022. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bondcast@natwest.com . NB: This was recorded on 24 November ...

Why we may see higher yields yet

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe and Theo Chapsalis for the UK – discuss investor sentiment around the Bank of England and the rate rise trajectory, and help make sense of big shifts in European rates markets. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email b...

Are the stagflation and policy mistake narratives overdone?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – discuss the latest US inflation figures, market pricing in Europe, and the upcoming (and record-setting) UK inflation-linked gilt issuance. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bl...

Tinker, Taper, Steeper, Sigh

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – debrief after a busy week of central bank meetings that saw the US Treasury tweak its refunding programme (Tinker), the Fed announce it will start to pull back on asset purchases (Taper), volatile spreads and steepening yields curves (Steeper), and a UK rate hike that never came (Sigh). Remember to hit ‘subscribe’ so you can liste...

For monetary policy hawks, birds of a feather flock together – except for the ECB

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giovanni Zanni for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – debrief on the latest European Central Bank (ECB) meeting, discuss what markets should expect at the Bank of England (BoE) and Federal Reserve meetings in November, and assess the US refunding outlook. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questio...

Are investors and central banks diverging on the path towards monetary policy tightening?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – discuss what bond investors should make of recent market volatility amidst (potentially) shifting central bank reaction functions. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg –...

Should investors be worried about central bank missteps?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – discuss the latest round of market volatility and potential risks facing bond markets in the months ahead. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bondcast@natwe...

Green gilts, corporate inflation fears, and US political deadlock

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – discuss the UK green gilt programme, corporate concerns over inflation & supply chains, and the path out of US political deadlock. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloombe...

How hauliers, energy prices, and politics are driving rates markets

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US take a closer look at how haulier shortages, spiking energy prices, and US politics are feeding into rates markets. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bondcas...

Central banks are getting spooked by inflation – should investors be worried?

In this episode of Bondcast, John Briggs and the NatWest Markets team of strategists – Giles Gale for Europe, Theo Chapsalis for the UK, and Jan Nevruzi for the US – digest a busy week of central bank meetings and discuss what it means for bond markets. Remember to hit ‘subscribe’ so you can watch our latest episodes as soon as they’re available – and hit the ‘like’ button so it’s easier for others to find. And if you have any questions you’d like answered on the podcast, reach out directly or o...

Upcoming central bank meetings, European inflation and other potential surprises in rates

Sharpen your view with our insights & fixed income analysis. Our market strategists discuss the biggest themes & events shaping the landscape. In this episode of Bondcast, John Briggs and the NatWest Markets team of strategists – Giles Gale for Europe and Jan Nevruzi for the US – discuss potential developments that could arise from the fed meeting, inflation trends in Europe and other surprises markets may have in store. Remember to hit ‘subscribe’ so you can watch our latest episodes as...

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?

In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists –Giles Gale for Europe and John Briggs for the US – discuss shifting ECB views in the run up to next week’s meeting and the likely impact of forthcoming US jobs data on rates markets. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re available. And if you have any questions you’d like answered on the podcast, reach out directly or on Bloomberg – or email bondcast@natwest.c...

Bondcast: should markets expect higher yields from here?

Sharpen your view with our insights & fixed income analysis. Our market strategists discuss the biggest themes & events shaping the landscape. In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists –Theo Chapsalis for the UK, Giles Gale for Europe, and Jan Nevruzi for the US – discuss the US fiscal outlook and debt ceiling season, the right time to turn bearish in Europe, and building the UK’s green bond curve. Remember to hit ‘subscribe’ so you can listen...

Bondcast: labour, inflation, or politics – what’s ultimately going to move bond markets in September?

Sharpen your view with our insights & fixed income analysis. Our market strategists discuss the biggest themes & events shaping the landscape. In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists –Theo Chapsalis for the UK and Jan Nevruzi for the US – discuss the upcoming Jackson Hole symposium, the latest UK inflation & labour data, and German elections. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soon as they’re availabl...

Bondcast: as central banks gear up to tighten, will the economy throw markets a yield curveball?

Sharpen your view with our insights & fixed income analysis. Our market strategists discuss the biggest themes & events shaping the landscape. In this episode of Bondcast, Imogen Bachra and the NatWest Markets team of strategists –Theo Chapsalis for the UK, Giles Gale for Europe, and John Briggs for the US – discusses the latest inflation & jobs data out of the US, and recent shifts in UK and Euro Area rates. Remember to hit ‘subscribe’ so you can listen to our latest episodes as soo...

Bondcast: monetary policy hawks are circling but bond yields are falling… why?

Sharpen your view with our insights & fixed income analysis. Our market strategists discuss the biggest themes & events shaping the landscape. In this episode of Bondcast, John Briggs steps in for Imogen Bachra, and along with the NatWest Markets team of strategists – Theo Chapsalis for the UK, Giles Gale for Europe, and Jan Nevruzi for the US – dives into the Bank of England’s quantitative easing plans, US refunding, and the curious shift lower in global bond yields. Remember to hit ‘su...