Pendal Group

Nothing to see here, move along; the risk-on move since the Brexit vote has been nothing short of outstanding. Emerging markets are the flavour of the month and inflows into high yield and low-grade bonds are at record highs. What’s not to like? Nothing at all. I often think our financial system feels like we are living in the matrix; everyone tells me the world I live in and the markets I position in are capitalist and democratic, but then why does it feel so much like a dictatorship where unelected people control everything? For fear of being labelled, a ‘zerohedge’ nutter or freak, in this newsletter I want to look at the role central banks play and ask are they really democratic? Read Vimal's monthly newsletter: (VIEW LINK)


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