Macro Matters: Morgan Stanley’s Hornbach on Oil and Global Rates

Oil prices have become the key driver of global rates markets as conflict in the Middle East reshapes inflation expectations and policy outlooks. Matt Hornbach, Morgan Stanley’s global head of...

By Aditya Somani · Bloomberg

Oil prices have become the key driver of global rates markets as conflict in the Middle East reshapes inflation expectations and policy outlooks. Matt Hornbach, Morgan Stanley’s global head of macro strategy, joins Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist, on this Macro Matters edition of the FICC Focus podcast. Hornbach explains why energy prices have been the dominant force behind moves in US and global bond markets, why longer-term inflation expectations have remai