Kames' McNeill: Central banks will revert to QE very quickly in the next downturn
Rising real interest rates a big risk
John McNeill of Kames Capital
John McNeill, head of rates at Kames Capital, has said the biggest "real danger" for markets is not central banks reducing their $20trn balance sheets, but rises in real interest rates.
McNeill warned a spike in global real interest rates, which have been on a downward trend since the 1980s, would cause a repricing across all asset classes, not just fixed income. "In terms of asset...
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