Money Talks from The Economist

The global bond sell-off is deepening. This week, the yield on ten-year American Treasuries surpassed 5%, its highest level in two decades. Meanwhile British gilts, German bunds and Japanese government bonds are all soaring to multi-year highs. Investors are under pressure from persistent inflation, government debt and the AI borrowing binge. We ask whether high long-term yields are here to stay.Guests and hosts:Mark Dowding, Chief Investment Officer for BlueBay fixed incomeMike Bird, co-host of “Money Talks”Alice Fulwood, co-host of “Money Talks”Topics covered:Bond marketsScott BessentAI infrastructure buildoutTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.

Since 2022, the AI boom has been the biggest story in financial markets. It has turned some of the largest tech companies into major financial players, lending and borrowing from one another. This week, we dig into how worried you should be about that web of “circular” AI financing.Guests and hosts:Shailesh Chitnis, The Economist's global business writer Mike Bird, co-host of “Money Talks”Alice Fulwood, co-host of “Money Talks”Topics covered:NvidiaAI boom“Circular” financingTranscripts of our podcasts are available via economist.com/podcasts.

Each August, the world’s central bankers descend on Jackson Hole. Normally, the coffee-break chatter is about policy. But this year, the big question was what Kevin Warsh, the enigmatic new Fed Chair, was really thinking—about how the Fed works, its independence and monetary policy. His speech was surprisingly revealing. Our acting economics editor tells us what he learned.Guests and hosts:Archie Hall, The Economist’s acting economics editorAlice Fulwood, co-host of “Money Talks”Ethan Wu, co-host of “Money Talks”Topics covered:Kevin WarshJackson Hole Economic SymposiumFederal ReserveTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.

For decades, America’s stock exchanges have been the destination of choice for international investors. And no wonder, since that is where the Magnificent Seven tech firms are listed. Until recently these behemoths were generating gushing streams of cash, spending little of it and delivering stellar returns. But are they—and the rest of America’s stock market—now losing their shine?Guests and hosts:Michael Hartnett, Bank of America investment strategistJosh Roberts, co-host of “Money Talks”Alice Fulwood, co-host of “Money Talks”Ethan Wu, co-host of “Money Talks”Topics covered:S&P 500American exceptionalismMagnificent Seven stocksTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.

American grocery prices have risen by around a quarter since 2020. So are shoppers getting ripped off? And, if so, is anyone cashing in? Money Talks goes on the trail of sky-high shopping bills.Guests and hosts:Aaron Lehman, president of Iowa Farmers UnionNik Modi, retail analyst at RBC Capital MarketsAlice Fulwood, co-host of “Money Talks”Ethan Wu, co-host of “Money Talks”Josh Roberts, co-host of “Money Talks”Topics covered:Food pricesGrocery storesFarmingTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+.

Humans have, mostly, made babies the same way for millenia. That kind of inertia is catnip to Silicon Valley investors who are pouring money into technology like embryo screening. On this week’s show, we explore the companies offering fertility tech and hear why some don’t shy away from terms like eugenics.Guests and hosts:Jonathan Anomaly, co-founder of HerasightMichelle Kwok, principal at DraperShera Avi-Yonah, The Economist’s business correspondentAlice Fulwood, co-host of “Money Talks”Ethan Wu, co-host of “Money Talks”Topics covered:Fertility industryEmbryo screeningEugenics Transcripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.

Conspiracy theories were rife when Kevin Warsh was made Fed chair. Was he a hawk in dove's clothing or a dove dressed as a hawk? The tinfoil hats came out because Mr Warsh himself remained tight-lipped. Now, though, he has presided over two rate-setting meetings at the Fed. So what have we learnt about the world’s most important central banker?Guests and hosts:Josh Roberts, The Economist’s capital markets correspondentArchie Hall, The Economist’s acting economics editorAlex Domash, The Economist’s acting US economics editorTopics covered:Kevin WarshThe Federal ReserveDonald TrumpTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.

Travelling for work is rarely glamorous. And nowhere is that more true than at The Economist. Our correspondents have spent the last four decades travelling the world, expensing Big Macs in service of one aim: to understand how currencies work. To celebrate the Big Mac index’s 40th birthday, we share what we’ve learnt.Guests and hosts:Eswar Prasad, economics professor at Cornell UniversitySimon Cox, The Economist’s China economics editor Josh Roberts, The Economist’s capital markets correspondentEthan Wu, co-host of “Money Talks”Topics covered:Big Mac IndexCurrencies Purchasing Power ParityTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.

Andy Burnham is Britain’s seventh prime minister in a decade. Can he and his chancellor, John Healey, break the British curse of sluggish growth, high debt and soaring spending? And, crucially, can he survive longer than Keir Starmer?Guests and hosts:Kristina Hooper, chief market strategist at Man GroupDuncan Robinson, The Economist’s political editor and Bagehot columnistJosh Roberts, The Economist’s capital markets correspondentEthan Wu, co-host of “Money Talks”Topics covered:Andy BurnhamJohn HealeyBritish economyTranscripts of our podcasts are available via economist.com/podcasts.Listen to what matters most, from global politics and business to science and technology—subscribe to The Economist.