Bobby Vedral on Taxing Big Tech, Europe’s Edge, and Biden’s China Policy

04/09/21 • 30 min

Macro Hive Conversations With Bilal Hafeez

This episode is supported by private equity platform Moonfare.

Bobby is partner and portfolio manager at Toscafund Asset Management. He is author of the widely read newsletter, Macro Eagle. He has been the UK representative of the German Economic Council. Before that Bobby was at Goldman Sachs where he was a partner and Global Head of Market Strats.

In this podcast, we discuss:

Why the backlash against Big Tech will continue.
The unionization drive in the US.
A new global corporate tax accord.
The bullish case for Europe.
Germany in a post-Merkel world.
Biden’s differences to Obama.
Biden’s tougher stance on China than Trump.
Current market views on bonds and equities.

This episode is supported by private equity platform Moonfare.

In this podcast, we discuss:

Why the backlash against Big Tech will continue.
The unionization drive in the US.
A new global corporate tax accord.
The bullish case for Europe.
Germany in a post-Merkel world.
Biden’s differences to Obama.
Biden’s tougher stance on China than Trump.
Current market views on bonds and equities.

Previous Episode

David Riley On US Debt Sustainability, the Reflation Trade and Corporate Defaults

David Riley is Partner and Chief Investment Strategist of BlueBay Asset management – a USD70bn fixed income fund. Before Bluebay, David was global head of Fitch’s Sovereign and Supranational Group, responsible for more than 130 ratings of the world’s largest fixed-income issuers. Prior to Fitch, David was at HM Treasury where he advised on international economic and debt issues, including representing the UK at international debt restructuring negotiations at the Paris Club of Official Creditors. In this podcast, we discuss:

How sustainable are US and developed market debt?
Will the reflation trade continue for 2021?
Peak pessimism on Euro-area.
Dollar trend.
Will corporates start defaulting?
Impact of higher rates on credit.
Which EM markets look attractive?
The impact of ESG on the asset management industry.
Books that influenced David: Fooled By Randomness (Taleb), Thinking, Fast and Slow (Kahneman), Trade Wars Are Class Wars (Klein, Pettis), Balance Sheet Recession (Koo).

Next Episode

Boris Vladimirov on Inflation Permanence, European Banks and BRICS Outlook

This episode is supported by private equity platform Moonfare.

Boris focuses on global macro and EM. He is a managing director at Goldman Sachs. Before GS, he was partner and portfolio manager at Rokos Capital Management, Fortress and Brevan Howard. Boris started his career on the sell-side which included working at UBS and Dresdner. In this podcast, we discuss:

Inflation outlook – the Europe surprise – inflation persistence.
Will fiscal spending crowd out private spending?
The best Europe trade.
Which yields matter for EM.
How important is China’s deleveraging goals?
Where next for Chinese currency and bonds?
Outlook for BRICS countries and which markets to buy.
Machine learning vs regressions.
Books that influenced Boris: Twenty-Eight Years In Wall Street (Clews), Economic Interdependence and War (Copeland), The Ashtray (Morris) and Twelve Virtues of Rationality (Yudkowsky).
Current market views on bonds and equities.