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

Supply Side Recession Stories

Having started the final external editing pass of my manuscript on recessions, I am now confronted with a possibility I dreaded: having the text overtaken by events. I split my text into two parts, and the first part mainly covered post-Keynesian th...

Inflation Is NOT The Most Significant Factor Determining Bond Prices

One of the pieces of pseudo-science that floats around in popular discussion of bonds is the belief that bond investors are deadly afraid of inflation. In particular, bonds "lose money" every time the Consumer Price Index rises -- which is most mont...

Publishing Update

The manuscript for Recessions: Volume I is now in the final editing pass. The actual appearance in online stores will take at least a month, but possibly closer to two months. I prefer to release the ebook and paperback editions simultaneously, and ...

Central Bank Objective Functions

One topic of research that keeps popping up is the question of what the central bank objective function should be. In simpler terms, what is the target of the central bank? (At present, most central banks have an inflation target, possibly with seco...

Another Pause...

Various distractions means that I will wait until the weekend until my next piece. Unless something interrupts, it will be about Scott Fullwiler's piece on "sustainable" fiscal policy. If the reader wishes, they can read ahead and be ready to pepper ...