FICC Focus

Global Elections Permeate Sovereign Bond Markets: Macro Matters

Jul 11, 2024

Bloomberg Intelligence's Ira Jersey and Huw Worthington discuss the impact of global elections on bond markets. They delve into US congressional partisanship, French and UK elections' volatility, and the implications of the US Presidential election on trade and geopolitics.

24:35

Episode guests

Ira Jersey

Huw Worthington

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Global elections impact sovereign bond markets with increased volatility and widening spreads.

Rise of right-wing populism in Europe challenges EU governance and fiscal policies, signaling a less EU-friendly political landscape.

Deep dives

Implications of the French Election on Bond Spreads

The recent elections in France saw unexpected results with Marine Le Pen's party gaining momentum. Despite concerns about the populist right gaining power, a coalition effectively pushed her party into third place. This political shift has affected French bond spreads, causing them to widen. The market is now adjusting to a new trading range, reflecting the uncertain political landscape.

Intro

5min

Analysis of European Parliament Elections and Political Trends in Europe

2min

European Elections and Market Outlook

9min

Analysis of Recent UK Elections, Fiscal Policy, and Potential Bank of England Rate Cuts

5min

Perceptions of US Elections from London

3min

US congressional partisanship is at it’s highest level ever and there’s no fiscal restraint on either side of the aisle, says Macro Matters host and Bloomberg Intelligence’s chief US rate strategist Ira Jersey. He joined BI’s chief European rate strategist Huw Worthington to discuss the implications of global elections across sovereign debt markets. The pair talk about recent volatility spurred by French and UK elections and their impact on relative value across markets. They also dissect the outcomes of the November US Presidential election and the implications of shifting trade and geopolitical stances on the economy.

Macro Matters is part of the BI FICC Focus pod cast series.

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FICC Focus

Global Elections Permeate Sovereign Bond Markets: Macro Matters

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Implications of the French Election on Bond Spreads

Rise of Right-Wing Populism in European Politics

Impact of US Political Polarization on Fiscal Outlook

Remember Everything You Learn from Podcasts