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Toby Nangle

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  • Friday, 23 February, 2024
    Markets InsightPublic sector pensions
    Public service pensions are the elephant in the room

    Asset-backing these promises could lift investment and growth

  • Wednesday, 21 February, 2024
    High yield bonds
    Is it PIK-up time for cash-strapped companies?

    Having failed to make it, more firms may try to fake it

  • Friday, 9 February, 2024
    Corporate bonds
    Could change of control covenants put a drag on M&A?

    We don’t know — and we have the charts to prove it

  • Monday, 5 February, 2024
    Markets InsightEquity valuation
    What’s wrong with the Shiller Cape benchmark for markets?

    The ratio is wheeled out to support bold claims about future returns. It cannot bear the weight of such expectations

  • Friday, 2 February, 2024
    Mergers & Acquisitions
    Pills or puts?

    Pick your poison

  • Wednesday, 31 January, 2024
    Sovereign bonds
    TIPSplaining a lousy inflation hedge

    Them’s the breaks

  • Friday, 19 January, 2024
    Corporate bonds
    How corporate credit investors are pricing the future

    Market prices can change expectations, as well as reflect them

    Traders on the floor of the New York Stock Exchange
  • Wednesday, 17 January, 2024
    Gilts
    Why and how are gilts trading at a spread?

    (And why you should care)

  • Friday, 29 December, 2023
    The Long ViewEmerging markets
    Will emerging market equities play catch-up?

    Given current conflicts and a congested 2024 electoral calendar, investors need to take into account geopolitical risk

    The Amazon office campus in Hyderabad , India
  • Friday, 22 December, 2023
    Sovereign bonds
    You’ve never had it so bad

    . . . if you’ve been a government bond hodler

  • Wednesday, 13 December, 2023
    Markets InsightAsset allocation
    Stocks outperform bonds by less than you think

    Equities cannot guarantee superior performance over the investment horizon of most investors

    Engraving by William Henry Bartlett shows pedestrians on the street outside the imposing facade of the Second Bank of the United States on Chestnut Street in Philadelphia, 1820s.
  • Friday, 8 December, 2023
    Final salary schemes
    Game over for DB pensions?

    Insert coin to discontinue

  • Tuesday, 28 November, 2023
    Equity valuation
    Slicing and dicing historical equity returns

    Past performance is not necessarily indicative of future results, but it does make for some neat charts

  • Tuesday, 28 November, 2023
    Workplace pensions
    Britain must look abroad to reform its pensions

    Canada, Australia and Denmark are success stories to learn from

  • Thursday, 9 November, 2023
    Gilts
    Is this bond bear market really worse than the 1970s?

    Hitting the history books for comparisons

  • Tuesday, 7 November, 2023
    Federal Reserve
    How the Fed might deal with a US default

    Courtesy of Nathan Tankus’ notes

  • Saturday, 4 November, 2023
    On Wall StreetInvesting in funds
    Why there are still active asset managers

    Markets appear inefficient enough to justify large investors’ use of them

  • Monday, 23 October, 2023
    UK economy
    Britain’s trillion pound shortcut to financial repression

    The great (e)SCAPE

  • Wednesday, 18 October, 2023
    Markets InsightEquities
    Less is more when it comes to strategic asset allocation

    As a JPMorgan strategist argued recently, complexity is both pointless and counterproductive

    Display of stock market quotes with city scene reflected on the glass
  • Tuesday, 26 September, 2023
    UK Data
    Fact-checking Liz Truss’s debt interest claims

    Or: a vibes-based discussion about international public sector accrual accounting for inflation-linked bonds

  • Monday, 25 September, 2023
    Pensions industry
    The government must not make the Pensions Regulator a lame duck

    Politicians should not forget that we all have a stake in a functioning pensions market

    Liz Truss addresses parliament from the speaker box
  • Tuesday, 19 September, 2023
    Pension Protection Fund
    Who’s going to backstop a UK public sector pensions superfund?

    Protector, protect thyself

  • Wednesday, 13 September, 2023
    Pension Protection Fund
    Pension consolidation for the nation

    PPF makes a play for the throne

  • Wednesday, 30 August, 2023
    Markets InsightPensions industry
    Why bigger pension funds are better for the UK

    There might not be a correlation between size and performance but there is a case for consolidation

    Jeremy Hunt
  • Thursday, 10 August, 2023
    Equities
    Most stocks are bad for your wealth

    x͂ < 0% < x̄

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