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Macro Matters

Deeper Dive: R star and the bond market

As at 18 April 2024

In the first episode of Fulcrum’s new series “Deeper Dives”, Gavyn Davies, Executive Chairman and Co-founder and Andy Bevan, Partner and Economic Advisor drill down into:

  • The concept of R-star, the equilibrium interest rate, and its importance in the bond market
  • The variety of ways to measure R-star and a comparison of the market’s pricing with the Fed’s estimate
  • The valuation of the bond market and the potential for long duration positions
  • The soft landing scenario for the economy is still the most likely
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