Interview on þjóðbraut on Hringbraut

I was interviewed on the new programme þjóðbraut on the Icelandic TV station Hringbraut. Only if you speak Icelandic.



June 27, 2016

Why it doesn't make sense to hold bonds

Investor demand for bonds is very high. This column argues that this is surprising because under almost any likely inflation scenario, including central banks merely hitting their target inflation rates, bondholders suffer large losses. The beneficiaries are sovereign and corporate borrowers; the losers are pension funds, insurance companies and some foreign exchange reserve funds. Meanwhile, the systemic risk from a bond crisis is increasing.

June 24, 2016

On the financial market consequences of Brexit

Brexit creates new opportunities and new risks for the British and EU financial markets. Both could benefit, but a more likely outcome is a fall in the quality of financial regulations, more inefficiency, more protectionism, and more systemic risk.