It wasn't the first cut in the cycle, nor at 25 basis points was it the deepest, but there was still plenty to talk about following the Bank of England's (BoE's) reduction to the Base Rate. In this episode, Joann Spadigam is joined by Paul Robson and Ian Vanderhorn to discuss a surprisingly hawkish cut by the BoE, and what impact recent payrolls data in the US might have on the Federal Reserve. They also address the economic outlook for Europe, particularly political risks emanating from France.

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This episode was recorded on 7 August 2025, and captions are automatically generated. 

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This week Joann Spadigam, Kevin Cummins and Ian Vanderhorn focus on the Federal Reserve's decision to hold rates in the US. They analyse the stance on interest rates, inflation and labour market conditions, as well as the US Treasury's borrowing plans. Lastly they discuss European bond curves and share their views on whether the Bank of England will cut rates next week. 

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This episode was recorded on 31 July 2025

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This week, it's all about central banks. Host Joann Spadigam is joined by Paul Robson and Deepika Dayal to discuss the ECB's recent interest rate hold, expectations for the upcoming US Federal Reserve rate decision and the next Bank of England monetary policy decision in August. They also talk trade and delve into US labour data.

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This episode was recorded on 24 July 2025.

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Joann Spadigam, Paul Robson and Ian Vanderhorn take a closer look at the latest UK data and the potential impact on the Bank of England’s thinking around rate cuts and quantitative tightening.

They also dig into the latest US inflation print and shifts in US trade policy, unpack the market whiplash around media reports about Fed Chair Powell’s fate, and look ahead to the forthcoming European Central Bank meeting.

This episode was recorded on 17 July 2025.

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In this episode of Bondcast, Joann Spadigam and Stuart Sparks discuss the current state of tariffs and trade deals, particularly in relation to the US and Europe. Might markets be underestimating recent developments? They also analyse why US monetary policy and fiscal policy need to find an equilibrium, and explore the impact of demographic changes on debt sustainability. The discussion also covers the outlook for European markets amid global fiscal pressures and the potential for inflationary trends to complicate the picture.

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This episode was recorded on 10 July 2025.

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This week, Joann Spadigam, Paul Robson and Ian VanderHorn discuss recent developments in bond markets, focusing on gilt market volatility, the Bank of England's quantitative tightening, the US's big and beautiful budget bill and the European Central Bank's strategy. The discussion highlights the importance of fiscal credibility, market interpretation of economic data, and the potential impact of global factors on European rates.

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This episode was recorded on 03 July 2025.

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This week, Joann Spadigam is joined by Kevin Cummins, Paul Robson and Stuart Sparks to discuss the recent geopolitical shifts and the impact on markets, particularly in relation to oil prices and investor sentiment. They delve into central bank policies, focusing on the Federal Reserve and the Bank of England, and explore the implications for economic outlook and investment mindsets. They also cover the European landscape, highlighting supply risks and future projections for bond markets and fiscal policies.

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This episode was recorded on 25 June 2025

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This week Joann Spadigam is joined by Paul Robson in a Bondcast/Currency Exchange crossover to talk about interest rate holds in the UK and US. Were there any clues about the nature of future decisions? Away from the central banks, they also discuss the impact of military tensions on market sentiment. 

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This episode was recorded on 19 June 2025.

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This week, Joann Spadigam, Giovanni Zanni, and Oriane Parmentier discuss the convergence of Italian and French yields. As the spread nears zero, they analyse underlying economics, political dynamics, consider debt sustainability in both countries and discuss the role that ratings agencies play in the market's evaluation.

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This episode was recorded on 18 June 2025

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In this episode, Joann Spadigam, Paul Robson and Stuart Sparks discuss recent economic data in the UK, including inflation and labour market statistics, the implications of the spending review, and expectations for the upcoming Bank of England meeting. They also delve into the gilt market outlook and the impact of Dutch pension reforms on interest rate hedging, and analyse the Fed's perspective on US data.

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This episode was recorded on 12 June 2025.

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