Gita Gopinath on Why Interest Rates Have Surged All Around the World
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 29 May 2026
⏱️ 55 minutes
🧾️ Download transcript
Summary
There's been a massive selloff in the bond market and rates are rising all around the world. Japan, Korea, the UK... You name it. Gita Gopinath, Harvard economics professor and the former first deputy managing director of the IMF, has long warned that bond markets are "in a fragile place." She sees a confluence of demographics, high levels of public debt, and the intense capital needs of the AI boom creating inflationary pressure all around the world. Today we speak with Gopinath about the seeming disconnect between stocks and bonds and why investors may be wrong to assume that governments will have their back the next time there's a major shock.
Read more:
US Bonds’ Return to Pre-War Calm Fuels Bets It’ll Be Short-Lived
China Sells $885 Million of Green Bonds in Hong Kong Debut
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Transcript
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| 0:00.0 | Oddlots is brought to you by Vanek. For years, investors basically forgot about real assets, |
| 0:05.3 | energy, gold, and infrastructure. But look at what's driving markets now. Central banks loading up |
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| 0:33.3 | The Bloomberg Sustainable Business Summit returns to Singapore on July 22nd. |
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| 1:05.4 | Bloomberg Audio Studios, Podcasts Radio News. |
| 1:21.2 | Thank you. Radio Studios. Podcasts Radio News. Hello and welcome to another episode of the All Thoughts podcast. |
| 1:24.5 | I'm Tracy Allaway. |
| 1:25.4 | And I'm Joe Watsonthal. |
| 1:26.9 | Joe, the big story of markets right now. |
| 1:29.4 | Has to be one of the big stories. The bond market sell off. By the way, as I say that, I just got this |
| 1:35.4 | massive feeling of deja vu because I'm pretty sure we've done a few episodes where I've started out |
| 1:40.2 | in the exact same line. Well, I mean, one, obviously, this is sort of one of the trends of |
| 1:45.9 | our time, which is that after a decade pre-COVID, where we just sort of assumed the rates |
| 1:51.3 | were going to head lower, there's been a regime change, as economists sometimes like to say. |
| 1:56.4 | And so now we have rates pushing higher again. They've come back a little bit in the last like a couple |
... |
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