My latest opinion piece for Reuters is available online.
One comment only: convenience yield is not the same as credit quality - convenience yield is a service flow one gets from holding a safe and liquid asset. Markus Brunnermeier has a nice video where among other things he explains the distinction.
One comment only: convenience yield is not the same as credit quality - convenience yield is a service flow one gets from holding a safe and liquid asset. Markus Brunnermeier has a nice video where among other things he explains the distinction.