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Debelle: Risk and Return in a Low Rate Environment
Today I am going to talk about some issues around risk and return in a low rate environment, in line with the theme of the conference. I am going to highlight questions that strike me as worth asking about the way return and risk are reflected in the current configuration of asset prices. I will suggest some considerations worth thinking about in trying to answer those questions from the investor side. I will also describe how issuers have adjusted their strategies to avail themselves of the low rate environment. One of the main points I would like to make is that the low interest rate structure underpins many asset ... (full story)