It’s the nature of the business, on my end, anyway. Talking, writing, speaking incessantly about the effective global reserve currency puts me more in touch with folks from outside the US. People in the rest of the global economy see and feel the effects of that currency system far more and more directly than we Americans do. It is one of the (few) perks in this line of work, being able to speak with foreigners and gain a firsthand sense of how they might be seeing the same things if still never given a comprehensive, even coherent explanation for them.

One of those recently was Marcelo Lopez of L2 Capital. If you’ve heard enough of me talking about eurodollars, Marcelo has had some interesting guests on his podcast which are worth your time. 

Another recent one was a short (for us) yield curve catch-up with Erik Townsend of MacroVoices. We go back to a previous conversation from early in 2018 and talk bond market and how everything has unfolded over the previous year. 



Bucking the offshore trend, I was fortunate and honored to be invited to speak with a few domestic fellows. Jim Grant and his excellent crew at Grant’s Interest Rate Observer had me on for a casual conversation, including a digression into why anyone in their sane mind would ever think of owning a negative yielding JGB. Or something like that. This one isn’t yet published, so I’ll link to it when it becomes available.