Surveillance: Barclays' Rogoff on Fed Cuts
Bloomberg Surveillance
00:00
The Impact of the Low Rate Free Lunch Crisis on Fixed Income
I think that, yeah, we don't have to go back that far to have a rate regime like this, right? We can go back 15 years, a little more than 15 years ago and have that. The difference, I think, is that prior to that, we didn't have the really low rate regime. So then it leads to so many assets in fixed income, specifically pricing at a substantial discount. That leads to the disconnect that led to the problems that we saw in banks.
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