A Note on Bond Yields, and Monetary Policy: Not Exactly what is Expected
by John E. Charalambakis
One of my favorite authors is Isaiah Berlin. I consider his anthology of essays by the title “The Proper Study of Mankind” as one of the finest books published in the 20th century. Isaiah Berlin had a notorious ideological conflict with Isaac Deutscher. Their public disagreements were rancorous, each one defending his position with passion (Berlin the classical Anglo-American liberalism, and Deutscher the Marxist interpretation of history). I believe that the bond market, a.k.a. the largest liabilities market on planet earth, is facing.
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