Bloomberg Surveillance Single Best Idea with Tom Keene: David Seif & Jens Nordvig
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Aug 13, 2025 Dive into the financial world as experts discuss how platforms like PayPal Open empower small businesses with flexible payment solutions. Explore the complexities of the current economic climate, including inflation concerns and the dynamics of yield curve steepening. Unpack the tension between economic leadership and prominent economists while reflecting on global affairs and their implications. This conversation blends insightful analysis with historical context, offering a rich perspective on today's challenges.
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Persistent Risk Premium In Long-Term Yields
- Developed-market yields have been steadily steepening since April without clear economic growth justification.
- Investors are demanding higher risk premia for long-term bonds even after crises resolve.
Steepening Without Growth
- The recent steepening isn't driven by stronger growth expectations.
- It reflects growing worries about future inflation and risk rather than better economic outlooks.
Moving The Yen In Goldman's Basement
- Tom Keene recounts early career moments at Goldman Sachs with Jim O'Neill and Bill Dudley.
- He recalls moving the Japanese yen alongside Jens Nordvig and Jan Hatsias in London.