Blain’s Morning Porridge Dec 4th, 2025 – Hans-Jeorge Rudloff could teach us much about markets…

“When the Eurobond market exploded, it made London the centre of the world…”

This is not an obituary – but a story about markets. Hans-Jeorge Rudloff, who passed away earlier this week, was the dominant figure of the Eurobond market. His insights and vision were extraordinary – understanding how marketsworked, how to dominate them, and setting the foundations for today’s $120 trillion global market!

Yesterday one of my chums and market mentors called me with the news Hans-Jeorge Rudloff, one of the founding fathers of the Euromarkets, had passed away on Monday. Between us, my friend and I must have over 90 years of market experience, but we both owe our careers and success to the market that Rudloffand a small number of others created. 

In 1985 – when I first started bothering my betters in finance - the Eurobond market funded around $165 bln in new debt. It was young and developing - the rules were being made up as it developed, but it was tremendously exciting. In its first 2 decades (from 1963) the Euro-market had grown from zero to 10% of global market debt capacity of a couple of trillion dollars!

Today, the Global bond markets are a $120 trillion plus phenomena! There are multiple subsets of the fixed income markets – most of which thrive. Asia is set to overtake the USA as the largest component of fixed income flows later this decade.

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