[i3] Podcast with JP Morgan’s Bob Michele

Bob Michele is Chief Investment Officer and Head of the Global Fixed Income, Currency & Commodities Group at JP Morgan. At the end of every year, Bob writes a tongue-in-cheek blog post, handing out awards to various fixed income asset classes and events. In this podcast, we discuss yield inversion, gold, cryptocurrencies, MMT and more.

* Please note that this recording was made before the coronavirus became a pandemic.

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Overview of Bob Michele Podcast:

1:30 How did you get into fixed income investing?
2:30 Annual bond awards blog post; heroes and villains
3:30 Last year’s yield curve inversion; what does it mean?
6:00 Should we tier the official deposit rate to combat inversion?
8:30 How creative do you want your central banker to be?
10:00 Inflation, disinflation, how concerned should we be?
13:30 Emerging market bonds, China bonds and fixed income indices
16:30 Will China bonds remain niche in the foreseeable future?
22:30 Covenant light bonds; are lending standards dropping?
27:30 You named gold the currency of the year. Isn’t gold just speculation?
30:00 “No yield is a pick up from negative yields”
32:30 Talking cryptocurrencies
35:00 View on MMT