The Lombard Review

Markets & Finance

Bonds, stocks, currencies, credit and commodities: the latest analysis of financial markets.

Markets & Finance

Japan is fighting the dollar. The dollar is winning

Sterilised intervention vs carry differential

Markets & Finance

Britain learns the price of a budget nobody believed

Unfunded tax cuts reprice sovereign risk premium

Markets & Finance

How Britain's pension funds nearly broke the bond market

Leveraged liability hedges force gilt sales into falling market

Markets & Finance

The euro falls below the dollar, and gas is to blame

Gas import bill flips current account to deficit