Bondcast - The Rates Podcast

NatWest Corporates and Institutions
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In this weekly podcast series, Imogen Bachra along with the NatWest Markets team of rates & markets specialists help investment professionals shape their portfolio views on fixed income, learn how the biggest themes, trends, and events affect bond performance, and get deeper insight into rates markets including the latest analysis & research from the NatWest team.

  1. 3d ago

    The Week Ahead (15-19 June '26)

    In this new series of Bondcast Week Ahead, Imogen Bachra shares her thoughts on what's moving markets in the coming five days.

    6 min

  2. 5d ago

    From Middle East headlines to central bank decisions

    This week Imogen Bachra is joined by Ian VanderHorn and Oriane Parmentier to discuss some key central bank decisions. They examine the latest developments from the ECB, previews next week’s Fed and Bank of England meetings, and explore how geopolitical tensions, inflation dynamics and politics are shaping market expectations.   Key topics:   * The ECB remains data-dependent but has not closed the door on additional rate hikes. * Strong US labour market data complicates the inflation outlook but does not yet point to a significant inflation reacceleration. * The first Fed meeting under Kevin Warsh will be closely scrutinised for signs of a shift in policy communication. * The Bank of England meeting may appear routine but could influence expectations for July and beyond. * Fiscal and political risks in both the US and UK remain important themes for rates markets in the second half of the year.   This episode was recorded on 11 June 2026.     You can also find this episode of Bondcast on Spotify and Apple Podcasts.   Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy.   For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html   Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

    27 min

  3. Jun 5

    Hawkish talk, headlines and more tariffs

    This week on Bondcast, the team examines how fading optimism over a potential US-Iran agreement and renewed tariff discussions are influencing rates markets. With major central bank meetings approaching, the discussion also turns to the outlook for the European Central Bank (ECB), Bank of England (BoE), and Federal Reserve.   Key topics:   * ECB rhetoric has become more hawkish, but policymakers are unlikely to commit to a fixed hiking path. * The BoE remains cautious, with centrist policymakers showing little urgency to raise rates. * Fed officials continue to balance inflation and growth risks more carefully than markets may be assuming. * New US tariff proposals could create future headline risk despite limited immediate economic impact. * French political risk is gradually moving back onto investors’ radar ahead of 2027. * Fiscal concerns remain a major structural challenge for the UK, particularly due to high debt servicing costs.   Contributors:   Imogen Bachra (host), Head of Economics and Markets Strategy Oriane Parmentier, European Rates Strategist Ian VanderHorn, Economics and Market Strategy at NatWest Markets   This episode was recorded on 4 June 2026.   Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy.   For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html   Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

    43 min

  4. May 29

    Is the Fed changing the rules?

    This week on Bondcast, Imogen Bachra, Oriane Parmentier and Stuart Sparks unpack the key macro themes dominating fixed income markets following NatWest’s Official Institutions Conference in Edinburgh. With geopolitical tensions in the Middle East continuing to drive market volatility, the discussion shifts beyond the headlines to explore how investors are thinking about inflation, growth, central bank reaction functions and fiscal risks across the US, Euro area and UK. Key themes discussed US: Affordability versus inflation Stuart outlines NatWest’s view that the Fed could increasingly focus on growth and real incomes rather than maintaining a rigid 2% inflation target. The team discusses whether higher inflation tolerance may become a feature – rather than a failure – of future policy.   Europe: Conditional ECB and structural steepening   Oriane discusses why the ECB’s tightening cycle may become increasingly data dependent, and why long-term funding pressures linked to defence, AI and energy transition spending could support steeper curves across Europe. UK: Inflation persistence and fiscal risk  Imogen explains why the UK faces a uniquely challenging combination of sticky inflation, aggressive QT and elevated fiscal sensitivity. The conversation also explores why political uncertainty continues to matter disproportionately for gilt markets. This episode was recorded on 28 May 2026. You can also find this episode of Bondcast on Spotify and Apple Podcasts.   Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy. For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

    44 min

  5. May 15

    Number five is alive in long-end rates

    In this episode of Bondcast, host Imogen Bachra is joined by global market specialist Ian VanderHorn to unpack the growing political and fiscal risks shaping UK and US rates markets – where 5% yields are now a thing. Key points: * UK political instability following poor Labour local election results * Risks of a Labour leadership challenge and implications for gilt markets * Why markets may be underpricing future UK borrowing * US tariff refund developments and worsening fiscal dynamics * Inflation persistence and implications for Treasury yields * President Trump’s China visit and evolving US-China relations This episode was recorded on 14 May 2026. Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy. For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

    29 min

  6. May 14

    In conversation with Huw Pill

    In this special episode of Bondcast, we replay NatWest's live broadcast fireside chat and Q&A with Bank of England Chief Economist Huw Pill, who was joined on stage by Imogen Bachra, NatWest's Head of Economics and Markets Strategy. Recorded on 14 May 2026.

    51 min

  7. May 8

    ECB expected to hike, but less certainty with the Bank of England

    This week, host Imogen Bachra is joined by Oriane Parmentier to talk about rates in the UK and the euro area. They focus on: - The return of market optimism despite geopolitical risk  - ECB outlook and how the market is pricing multiple hikes - Bank of England pricing, as well as fiscal and political risks in the UK - Client sentiment on rate rises in major economies - What to watch next week  This episode was recorded on 7 May 2026.  You can also find this episode of Bondcast on Spotify and Apple Podcasts.   Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy. For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

    29 min

  8. May 1

    Central banks held rates, but what to take from the details?

    This week, host Imogen Bachra is joined by economists Kevin Cummins and Giovanni Zanni to talk through their analysis of three central bank decisions to hold rates. Key points: 1. Federal Reserve rate hike prospects and dissenting opinions 2. European Central Bank’s conditional hawkish stance 3. The Bank of England’s cautious outlook and market expectations This episode was recorded on 30 April 2026. Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy. For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

    25 min
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About

In this weekly podcast series, Imogen Bachra along with the NatWest Markets team of rates & markets specialists help investment professionals shape their portfolio views on fixed income, learn how the biggest themes, trends, and events affect bond performance, and get deeper insight into rates markets including the latest analysis & research from the NatWest team.

Information

  • Creator
    NatWest Corporates and Institutions
  • Years Active
    2021 - 2026
  • Episodes
    212
  • Rating
    Clean
  • Copyright
    © 2026 Bondcast - The Rates Podcast
  • Show Website
    Bondcast - The Rates Podcast

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