FT’s Robin Wigglesworth: Why Bonds, Not Stocks, Rule Everything Around Us | #650
Today’s guest is Robin Wigglesworth, editor of FT Alphaville at the Financial Times and the author of A Fabulous Debt: The Epic Story of How Bonds Built the Modern World. In today’s episode, Robin makes the case that bonds, not stocks, are the bedrock of finance and quietly built the modern world. He explores the hidden plumbing beneath it, from the $12 trillion repo market to the leverage lurking in Treasuries, and why fixed income ETFs are rewiring how bonds trade.
Key Points
- Bonds are the bedrock of the financial system, playing a crucial role in determining the price of money and influencing major historical events.
- The bond market has evolved significantly, with innovations like fixed income ETFs and the repo market reshaping how bonds are traded and valued.
- Recent events, such as the UK bond market turmoil that led to the ousting of Prime Minister Liz Truss, highlight the immense power and influence of the bond market on global politics and economics.
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Resources: A Fabulous Debt: The Epic Story of How Bonds Built the Modern World
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Chapters
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| 43:33 |
Transcript
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