Ludovic Subran
@Ludovic_Subran
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Chief Investment Officer and Chief economist @Allianz. Senior Fellow @Harvard. Member @CAEInfo. Co-Chair @MercyCorps. My views
Munich, Bavière
Joined March 2012
RT @PatrickKrizan: @Ludovic_Subran @robin_j_brooks We all love a good fiscal drama, but QE has an impact on the supply-demand dynamic of du….
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RT @FrancoisGeerolf: Oui ! Notamment via les assurances-vie en € 💶 qui détiennent des titres de dette publique 🇫🇷 - et d’autres États de la….
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Well It’s part monetary policy (hint: QT).
It's really unusual for 30-year Treasury yield to rise in a Fed easing cycle. It's even more unusual for 30-year yield to rise with all the world's major central banks in an easing cycle. This tells you monetary policy isn't the problem. Runaway fiscal deficits are the problem.
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Out now: our sector Atlas 2025 shows trade wars evolving into sector wars, as US tariffs reshape supply chains & elevate risks in autos, metals, agrifood. Meanwhile, IT & pharma demonstrate resilience, so far:
allianz.com
US tariffs are reshaping supply chains, prompting retaliation and heightening uncertainty. Companies will continue to adapt as the trade war is here to stay.
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RT @FrancoisGeerolf: Encore une fois: on oublie l’effet de l’inflation. Avec 2% d’inflation, elle allège la dette de ~66 Md€. ➡️ Coût réel….
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RT @classcnbc: Alta tensione tra Italia e Francia dopo le accuse di dumping fiscale rivolte dal primo ministro Bayrou contro Roma. @Ludovic….
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RT @michaelxpettis: 1/2.Interesting piece by Kaushik Basu. The point I'd add is that Washington should have never put tariffs on India. Ind….
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RT @acemaxx: #real yield up, #inflation expectations flat – (my two cents) It could mean 1) #investors expect higher «neutral rate» (r)*, 2….
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RT @TaviCosta: Foreign central banks now officially hold more gold than US Treasuries — for the first time since 1996. Let that sink in.….
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Les épidémiologistes energétitiens, russophones, spécialistes de l’IA, docteur ès Cassandre, et désormais spécialistes de la dette (sans en avoir acheté/vendu/émis une de leur vie) sont de sortie. Ils volent en escadrille, sortez couverts 😂.
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🤪.
SAM ALTMAN WARNS THAT AI BOOM SHOWS SIGNS OF A BUBBLE, SAYING SOME INVESTORS COULD LOSE “PHENOMENAL” AMOUNTS OF MONEY EVEN AS HE REMAINS BULLISH ON ITS LONG-TERM POTENTIAL.
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RT @robin_j_brooks: Perfect storm in global bond markets: (i) high debt levels mean countries must abandon the status quo & pursue fiscal c….
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RT @RaveaudGilles: Où est allée la dette publique ? Un élément de réponse :.Depuis 2017 :.- Hausse de la dette publique : 1.100 milliards d….
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Why say stupid things like these? Even for political reasons. There is absolutely no need for the IMF to intervene… This idea that we need an adult in the room is. 🤦🏻♂️ .#IMF #France . They may be busy with the UK first anyhow (sorry bad French joke 😆).
reuters.com
France found itself mired in yet another crisis on Tuesday, after Prime Minister Francois Bayrou's gamble to win backing for his deeply unpopular debt-reduction plan backfired, plunging the country...
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RT @albertedwards99: This is the most important chart for investors at the moment. 30y JGB yields hit a new record high today. Checking JGB….
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RT @robin_j_brooks: The world is struggling with a post-COVID debt hangover. The world's leading central banks have all been cutting policy….
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RT @eckilepsie: Here we go:. „Der Sozialstaat, wie wir ihn heute haben, ist mit dem, was wir volkswirtschaftlich leisten, nicht mehr finanz….
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RT @KobeissiLetter: What is happening here?. Over the last 48 days, the US Federal Debt has surged by +$1 TRILLION, or +$21 billion PER DAY….
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RT @DKThomp: New newsletter: We need to talk about how GLP-1 drugs seem to be good for practically everything—and what that means for the f….
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