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Episode description
How The Treasury Decides Where To Borrow | Steve Hou on Maturity Issuance Policies of U.S. Treasury and Equity Index Construction
Monetary Matters with Jack Farley
Jan 13, 2025
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2 hr 46 min
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Episode description
Steve Hou, Researcher at Bloomberg Indices, joins Monetary Matters to share his work on Treasury Issuance patterns and equity index construction. Hou explains that “the supply effect” (i.e. the degree to which issuance of long-term bonds rises bond yields is related to stock/bond correlation). He shares several findings from his work on indices related to pricing power, research and development (R&D), and other factors, and at the end he offers his macro views on bond yields and the increasingly concentrated stock market. Recorded on January 7, 2025. __ Follow Monetary Matters on: Apple Podcast
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https://x.com/JackFarley96
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https://x.com/stevehouf
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__ Chapter 1 of Steve’s dissertation (“When is the supply effect large in the government bond market?”):
https://finance.unibocconi.eu/sites/default/files/files/media/attachments/SteveHou_JMP20180115111812.pdf
Steve’s work on the innovation factor (R&D):
https://t.co/VSSpiUExWL
Steve’s work on pricing power:
https://www.bloomberg.com/professional/insights/financial-services/cracking-the-code-of-pricing-power/
Work on Analyst ratings upgrades:
https://www.bloomberg.com/professional/insights/trading/analyst-ratings-improvers-a-bet-on-turnaround-companies/
How The Treasury Decides Where To Borrow | Steve Hou on Maturity Issuance Policies of U.S. Treasury and Equity Index Construction | Monetary Matters with Jack Farley podcast - Listen or read transcript on Metacast
