Future Trouble in Macro? Liquidity Traps and a Slowing Global Credit Impulse

Real Vision: Finance & Investing

Real Vision

News, Business News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 25 July 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Interview: Could a slowdown in credit creation and a tightening of monetary conditions push bond yields lower and threaten risk assets? Alfonso Peccatiello, fixed income investor and publisher of the Macro Compass, believes that’s possible. Peccatiello contends that inflation is indeed transitory, and, disagreeing with the "bond vigilantes," he argues that cash, bonds, and volatility protection will perform better in this environment than high-beta assets such as commodities and bank stocks. Interviewed by Real Vision’s Jack Farley on July 2, 2021. Peccatiello's blog, The Macro Compass, can be found here: https://themacrocompass.substack.com/. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	heard about Magpie, the vegan pie truck that needed a bit of help from GoDaddy.
0:03.3	One day the owners are like,
0:04.8	this business hasn't reached this potential.
0:07.1	And the other one goes,
0:08.1	we need a bigger piece of the pie.
0:09.8	And then it hits her.
0:11.1	We need GoDaddy.
0:12.0	Look, we can get a domain name and create an online store
0:14.8	so we can sell to more customers.
0:16.8	Now they've gone from serving a couple of pies
0:19.1	to a vlogging nationwide.
0:20.9	And now everyone's like,
0:22.2	vegan pies are the new thing around here.
0:25.0	Wait, no me!
0:26.3	Take the next step on your business journey with GoDaddy.
0:42.1	Alfonso, welcome to Real Vision.
0:44.0	Thanks, my pleasure to be here today.
0:46.1	Yeah, so for people at home, Alfonso Pecatello
0:49.1	is the head of fixed income portfolio management
0:52.1	at ING Germany.
0:54.6	That is your day job.
0:56.0	But I understand, Alfonso,
	...

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