Ethan Ilzetzki on the International Implications of Fed Policy, Business Cycle Theory, and the UK Crisis
Macro Musings with David Beckworth
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Is There an Appetite for a 30-Year Mortgage?
The natural market for these type of assets would be pension funds, and particularly UK pension funds who are, you know, a pound-based. I think there would be an appetite, like you said, for a 30-year mortgage from the UK. Once we get past the pandemic, the other side of this high inflation, we're going to be back to the same structural forces that have been affecting us beforehand. And that aging planet once long-term liability is they can hold, someone else's liabilities they can hold as they grow older, more risk-averse.
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