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About Bond Economics

This web site is about economics and finance, viewed from the point of view of a fixed income quantitative analyst. The site offers commentary about market trends, but does not offer investment advice. The objective is to look at what are the driving forces in the developed economies and markets, looking through the short-term distractions. There are also articles written to explain how to to develop models to analyse economies or fixed income securities.

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About Brian Romanchuk

I have developed this blog to share my ideas on what's happening in the world of fixed income analysis, and hopefully learn from you readers.

Previously, I worked at the Caisse de dépôt et placement du Québec from 2006-2013, starting as an analyst and ending as the head of the Fixed Income Quantitative Analysis team. From 1998-2005 I worked at BCA Research, an economic research firm based in Montréal.

I earned a doctorate in control systems engineering at the University of Cambridge, after a bachelor's in electrical engineering at McGill University. I held post-doctoral positions at Cambridge and McGill before moving to work in finance.

I am a CFA charterholder.

I reside near Montréal, Québec, Canada.

Brian Romanchuk


I hope to make at least some money from this blog as a result of advertising relationships. As a result, it is possible that following any hyperlinks from this site or an article delivered in another format (e.g., a post received by email)  to an external website may result in my receiving a reward, monetary or otherwise.

Unless expressly stated otherwise, any mention of a product or service may be produced by an affiliated company with which I have an advertising relationship.

Brian Romanchuk ("") is a participant in the, Inc. Associates Program (as well as Affiliates Program), an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to (and/or

Privacy Policy

I will not sell or rent the email addresses or other personal information  I receive to third parties. I offer third party services that allow you to subscribe to blog content. Please consult those third party services for their privacy policy.

In particular:

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Blog Comment Policy

The author of this blog may reject any comments submitted to this blog. Blog comments are unsolicited, and the author of comments have no further claim over the comment contents.

I welcome comments from people who disagree with me, and particularly welcome comments that point out errors in what I write. (The articles here are first drafts, and in addition to making analysis errors, I can easily mangle my own text by accident.) If I make an actual error, I want to change my text to reflect that; and I will acknowledge the error. That said, abusive comments (towards anyone) taints the associated article, and will not be tolerated. Many sites have shut down commenting for that reason. Since I get valuable feedback from my readers, I will instead systematically weed out trolls. Be civil, or be deleted.

Please do not release personal information (such as your email address) in blog comments.

Finally, there is a wave of spam comments which provide compliments ("Very insightful post!"). Unless I know who you are, I will delete comments that appear to have been machine generated.

Financial Markets Disclaimer

As noted below, nothing on this website should be considered to be a recommendation to buy or sell securities. This website only discusses the general trends in the global economy. Investors need to understand their own investment objectives before undertaking investment strategies. 

The author (Brian Romanchuk) invests his personal portfolio, and what is written probably reflect that portfolio's positioning. Since I presumably believe what I am writing, that seems like a fairly safe bet.That said, it seems like a stretch that this blog is going to move the global interest rate complex.