Today's slide deck: https://bit.ly/3fcHukP -
While nominal yields are languishing and dropping only slightly, real yields in the US have moved aggressively lower as commodity prices rise and forward inflation fears rage. We look at the implications, especially gold and look at record low yield spreads for junk corporates versus investment grade, sovereign yields in the EU and UK, discuss expectations for the BoE today and implications for sterling, the Scottish parliamentary elections, grains, and more. Today with Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Intro and outro music by AShamaluevMusic