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15min chapter
Gilt Yields and Ghosts of Budgets Past: Who's Afraid of Bond Vigilantes?
Many Happy Returns
Budgeting in Uncertain Times
This chapter explores the interplay between government budgets and one-year yields, emphasizing the impacts of inflation expectations and rising interest rates. The discussion critiques the Office for Budget Responsibility's forecasts, contrasting them with more optimistic outlooks and the implications of fiscal commitments like increased defense spending. Additionally, the chapter highlights the role of bond markets and bond vigilantes in shaping fiscal policy, particularly in the context of past economic crises.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode