Follow Joshua McCallum

Joshua McCallum is the senior Fixed Income Economist at UBS Global Asset Management, where he provides economic analysis to support and challenge portfolio managers. Before joining UBS in 2005, Joshua worked for the UK Treasury, dealing with an eclectic range of topics including international macroeconomics, the UK budget, economic reform in Europe, and post-conflict fiscal policy in Iraq.

Joshua McCallum recently

April 2014

  1. Home bias

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    Despite having one of the highest levels of public debt, Japan is seen as a “safe haven” for investors. More than 90% of Japanese government debt is held by domestic investors, and this “home bias” of Japanese investors seems to be supporting the somewhat unsustainable fiscal situation – at least, for now.

  2. Looking forward to it

    Blog post | Tags: Joshua McCallum

    Why did the ECB not announce any action last week following the release of very low Eurozone inflation figures? Surprisingly, the ECB does not seem too concerned about the risk of disinflation or even deflation. To understand the ECB’s position, it is important to look at the factors which have been keeping inflation low.

March 2014

  1. Exchanging problems

    Blog post | Tags: Joshua McCallum

    The appreciation of the euro not only makes the Eurozone less competitive but it also causes problems for the rebalancing of the Eurozone – even though they have a single currency, it makes the periphery countries less competitive within the Eurozone compared to the core. This week, we look at why this is the case.