What we’ve got here is a failure to communicate

The conflict between economists and market strategists is one of our favourite theory-versus-practice debates, since both groups try to answer big questions about the allocation of resources.

And in the bumpy years since the global financial crisis, the two groups have had an especially tough time agreeing. That’s why it’s been fascinating to see a mini-debate unfold between economist Brad DeLong and Matt King, Citigroup’s global head of credit products strategy.

Continue reading: What we’ve got here is a failure to communicate

The conflict between economists and market strategists is one of our favourite theory-versus-practice debates, since both groups try to answer big questions about the allocation of resources.

And in the bumpy years since the global financial crisis, the two groups have had an especially tough time agreeing. That’s why it’s been fascinating to see a mini-debate unfold between economist Brad DeLong and Matt King, Citigroup’s global head of credit products strategy.

Continue reading: What we’ve got here is a failure to communicate

There’s no yield, and Citi isn’t going to take it anymore

Citi’s Matt King has some harsh words for central bankers ahead of this week’s gathering in Jackson Hole, Wyoming: he says they’ve broken the market.

King echoes a group of fund managers who say central banks’ stimulus efforts are distorting the way global markets function. The problem is this: with negative yields on $13 trillion of safe assets, investment managers are crowding into the shrinking group of investments with yield — or into securities they may be able to sell to central banks.

Continue reading: There’s no yield, and Citi isn’t going to take it anymore

Citi's Matt King has some harsh words for central bankers ahead of this week's gathering in Jackson Hole, Wyoming: he says they've broken the market.

King echoes a group of fund managers who say central banks' stimulus efforts are distorting the way global markets function. The problem is this: with negative yields on $13 trillion of safe assets, investment managers are crowding into the shrinking group of investments with yield -- or into securities they may be able to sell to central banks.

Continue reading: There’s no yield, and Citi isn’t going to take it anymore