The Federal Open Market Committee (FOMC) has increased the target interest rate by 3.75 percentage points since March 17, 2022. In this post we examine how corporate bond market functioning has evolved along with the changes in monetary policy through the lens of the U.S. Corporate Bond Market Distress Index (CMDI). We compare this evolution to the 2015 tightening cycle for context on how bond market conditions have evolved as rates increase. The overall CMDI has deteriorated but remains close to historical medians. The investment-grade CMDI index has deteriorated more than the high-yield, driven by low levels of primary market issuance.
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My Lords, the Chancellor’s Autumn Statement is designed to reassure the markets of the sustainability of the public finances. That is, the Chancellor accepts as binding the views of the City of London, whether they are right or wrong. It is what the markets think that matters, not how matters really are—a nice intrusion of … Continue reading Speech on the Autumn Statement 29 November 2022
What makes this so difficult is that time has a way of eroding the power of words.
For immediate release The Open Rights Group’s policy manager on Freedom of Expression, Dr. Monica Horten said: “Over 40 million people use these services in the UK. This is a massive expansion in surveillance capacity hidden inside a bill designed to protect children from harmful content”. “Children deserve to grow up in a free society. […]
Welcome to my Wednesday Blog. Lots happening this week! Tom Clancy’s Splinter Cell: Firewall Tom Clancy’s Splinter Cell: Firewall is an eight part radio serial on BBC Radio 4 that starts on Friday, 2nd December at 2.15pm, and will be on every Friday in that same slot. (All episodes will go live as a boxset on BBC Sounds ... Read More
A policy brief on the inclusion of private communications in scope of the Online Safety Bill and the impact on end-to-end encryption Chat monitoring of private messaging services has sneaked into the Online Safety Bill with very little public debate or Parliamentary Scrutiny. This policy brief sets out ORG’s concern as this unprecedented expansion in […]
- by P D Magnus
- by Psyche Film
- by Janine M Dutcher & Amber Quinn
- by Jeremy Wyatt & Joseph Ulatowski
An analysis looks at three potential scenarios to end high inflation, with some rockier than others for the economy.
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