We start today’s double podcast discussing an aspect of the UST markets which is often overlooked and poorly understood which poses potentially huge risks to financial institutions and to the treasury markets themselves and again highlights why nothing was really learnt during the aftermath of Lehman. We then discuss aspects of the European markets and why there are increasing indicators that the Eurozone is heading into a major recession. We then move onto a highly interesting presentation that the Indian FM Jaishankar made in New York which contained many references to the demise of unipolarity, the rise of multipolarity and how the US will need to find ways to change its stance from zero sum games to win-win cooperation. We conclude by assessing a recent incident in West Asia involving the US and Turkey and why it appears Ankara is running out of patience with US policy initiatives there.

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