The Rise and Fall of the Bond Market Traders
In the 80's and 90's governments paid a heavy price if they borrowed too much. Now, despite record borrowing they can pay less than 1%. How did that happen and does it matter?
In the 1980s, Margaret Thatcher famously said that 'You can鈥檛 buck the markets' and Governments back then feared that, if they borrowed too much, they'd pay a terrible price in the markets in terms of higher borrowing costs. But now governments around the world are borrowing record amounts but paying record-low rates. In this programme Philip Coggan examines how the markets were tamed.
Philip talks to Don Kohn, former vice chairman of the Federal Reserve, economist and author Eric Lonergan, Andrew Balls, Chief Investment Officer at Pimco and economist and author Stephanie Kelton.
Producer: Ben Carter
Editor: Jasper Corbett
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Broadcasts
- Mon 19 Oct 2020 20:30成人快手 Radio 4
- Sun 25 Oct 2020 21:30成人快手 Radio 4
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Analysis
Programme examining the ideas and forces which shape public policy in Britain and abroad.
