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Quentin Fitzsimmons
Head of Government Bonds & Absolute Return Strategies
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Quentin Fitzsimmons' Blog
Quentin Fitzsimmons, Head of Government Bonds
Here come the waves
06 Sep 2010 I've realised I haven't blogged since May. It's not because there's been nothing to say; rather I've been very busy - so much so that the five minutes saved each day by keeping my beard and not having to shave has been a masterstroke. Indeed my partner is very fond of it and now even Threadneedle recognises that a new photo is probably required to maintain the true and fair representation of one of its fund managers! And as I said in my last blog I feel this new image suits the period of austerity that we keep being told is around the corner. Well things certa... more >
Tags: recession, Federal Reserve, investing
The bond market: a druid’s view
21 Jun 2010 Just as the summer solstice passes, and longer days give way to longer nights, so the UK's fiscal stance has gone from endless summer to impending winter. And so to the great modern pagan debate; are you a Keynesian or of the fiscally orthodox tradition? Government bond investors, the vigilantes as they have been called, are scrutinising the high priests of our time. It is a challenge that all other investors must also heed. Confidence in the Keynesian religion is waning. Public sector deficits that threaten to run perpetually above 10% of GDP have been ... more >
Tags: keynesian, quantitative easing, budget, Stonehenge, GDP, bond vigilantes
"Finanzkulturkampf"
06 May 2010 Apologies especially to any German readers for my hackney-eyed German - Kulturkampf described the struggle by Bismarck to secularise the newly formed German state in the 19th century. And my made up "Finanzkulturkampf" is an attempt to describe the economic conflict that is happening in the eurozone today. In my opinion the orthodox Germanic monetary framework of sound money that serves as the ECB's modus operandi has just experienced its most dramatic challenge from the debt-debauched periphery. €110 billion bailout for Greece with its legacy of corruption and waste is a huge pu... more >
Tags: germany, greece, economic, conflict, bailout, government, bonds, rescue, package
The strange death of two party politics?
21 Apr 2010 As a fund manager I have always tried to be balanced when it comes to taking a view on who is right and who is wrong in politics. Indeed, to make the right decisions for my clients I believe that the key is to work out where the political landscape is going rather than to have too much of a personal opinion. Being biased can get in the way of clarity of thought! However, in my earlier years I enjoyed studying politics and I remember coming across a book written in the interwar period called "The Strange Death of Liberal England". In 1906 the Liberals achieved a remarkable lands... more >
Tags: politics, conservative, labour, liberal, tv, debate, financial, market, sterling
Shades of 1992
01 Mar 2010 Ooops - into March without another blog and my New Year's resolution slips rapidly! Well it's an understatement to say that a bit has been happening in the world of government bonds as Greece slips into the sights of the bond vigilantes. In fact the issue of sovereign risk is now the hot topic whether you're more interested in equities or bonds. Meanwhile the Bank of England has stepped back from its policy of quantitative easing and the bald fact that the UK economy must find 1% of its annual GDP per month to finance the deficit is a significant headwind to better economic growt... more >
Tags: greece, government, bonds, uk, economy, deficit, fiscal, stimulus
The author of this blog is writing in a personal capacity. The views expressed here are the author's alone and do not necessarily accord with those of his employer. They are made as at the date of publication but are subject to change without notice. None of the content in this blog should be construed as the giving of investment advice or recommendations.