Hot on the heels of our new Thematic slot at CitiWire, we were asked to do one of our semi regular pieces this weekend for the highly regarded Australian publication AFR.

The FT is required reading, not on the basis it has great wisdom, rather that it embodies the opinion of “The Powers That Be (TPTB).

It is often said that markets don’t like uncertainty. This is not strictly true, for while long term investors are seeking to match asset and liabilities and to price actuarial risks and thus are largely indifferent to noise and uncertainty

My article on US Shadow Banks in the AFR last month.