Bond Economics

Bond Economics is about economics and finance, viewed from the point of view of a fixed income quantitative analyst. The site offers commentary about market trends, but does not offer investment advice. The objective is to look at what are the driving forces in the developed economies and markets, looking through the short-term distractions. There are also articles written to explain how to to develop models to analyse economies or fixed income securities. Author, Brian Romanchuck is a consultant and on the Advisory Board of the Global Investment Strategy Institute (link). Previously, he worked at the Caisse de dépôt et placement du Québec from 2006-2013, starting as an analyst and ending as the head of the Fixed Income Quantitative Analysis team. From 1998-2005 he worked at BCA Research, an economic research firm based in Montréal. He has a doctorate in control systems engineering at the University of Cambridge, after a bachelor's in electrical engineering at McGill University. In addition, he held post-doctoral positions at Cambridge and McGill before moving to work in finance.

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Awards & Publications

Books: Interest Rate Cycles: An Introduction Understanding Government Finance

Latest Articles

The Pivot To Fiscal?

The final Mario Draghi press conference had him underlining the importance of fiscal policy. Since I am supposed to be working on my slides for my presentation in the panel "MMT: Who is Listening?", one might argue that it looks like a lot of people...

Manuscript Update

This is just a short update on the situation on my latest book manuscript. As I noted earlier, I am splitting my text on recessions into two parts, and publishing the first volume before finishing the second. (Whether or not that is a mistake remain...

Sustained Unsustainable Trends: Canadian Edition

I have not been commenting on Canadian data recently, but I just wanted to update the above chart of the debt-to-disposable income ratio. (It caught my eye as I was inserting the chart into my manuscript.) It was very easy to declare the rise in th...

Thoughts On My MMT Conference Panel Talk

I will be presenting in the panel "MMT: Who is Listening?" on September 27th, with Bill Mitchell, Glen Hadden (missing from preliminary agenda), and Alexandra Scaggs at the Third International MMT Conference. (Link: https://mmtconference.org/.)The ...

Is The Treasury Market Wrong Because Of Hedgers?

I have some seen some commentary about hedging demand and Treasury yields. One typical interpretation is that hedging demand is pushing Treasury yields "too low," and so the signal from the yield curve is distorted. Furthermore, one could argue tha...