Bondcast - The Rates Podcast

In this episode of Bondcast, host Imogen Bachra is joined by global market specialist Ian VanderHorn to unpack the growing political and fiscal risks shaping UK and US rates markets – where 5% yields are now a thing.
Key points:
* UK political instability following poor Labour local election results
* Risks of a Labour leadership challenge and implications for gilt markets
* Why markets may be underpricing future UK borrowing
* US tariff refund developments and worsening fiscal dynamics
* Inflation persistence and implications for Treasury yields
* President Trump’s China visit and evolving US-China relations
This episode was recorded on 14 May 2026.
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In this special episode of Bondcast, we replay NatWest's live broadcast fireside chat and Q&A with Bank of England Chief Economist Huw Pill, who was joined on stage by Imogen Bachra, NatWest's Head of Economics and Markets Strategy.
Recorded on 14 May 2026.

This week, host Imogen Bachra is joined by Oriane Parmentier to talk about rates in the UK and the euro area. They focus on:
- The return of market optimism despite geopolitical risk 
- ECB outlook and how the market is pricing multiple hikes
- Bank of England pricing, as well as fiscal and political risks in the UK
- Client sentiment on rate rises in major economies
- What to watch next week 
This episode was recorded on 7 May 2026. 
You can also find this episode of Bondcast on Spotify and Apple Podcasts.  
Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy.
For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html
Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

This week, host Imogen Bachra is joined by economists Kevin Cummins and Giovanni Zanni to talk through their analysis of three central bank decisions to hold rates.

Key points:

1. Federal Reserve rate hike prospects and dissenting opinions
2. European Central Bank’s conditional hawkish stance
3. The Bank of England’s cautious outlook and market expectations

This episode was recorded on 30 April 2026.

Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy.

For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html

Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html

This week, host Imogen Bachra is joined by economists Kevin Cummins and Giovanni Zanni to talk through their expectations ahead of three imminent central bank meetings.
Key points:
1. US economic data and consumer resilience
2. UK inflation and labor market dynamics
3. Fed, BoE and ECB policy forecasts
4. UK political risks and fiscal policy
5. Ongoing impact of geopolitical tensions on markets
This episode was recorded on 23 April 2026. 
Remember to hit subscribe so you can listen to the latest episodes in this series as soon as they're available and get our views on the big themes and events moving markets and shaping the economy.
For any terms used please refer to this glossary: https://www.natwest.com/corporates/insights/markets/glossary.html
Please view our full disclaimer here: https://www.natwest.com/corporates/disclaimer.html