John Stepek

speaker

2,659 appearances 29 recordings 1 series first heard Apr 2026 last heard today

John Stepek’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 29 in all, peaking in Jul 2026 with 7.

Appearances

newest first · ▶ plays the moment

Merryn Talks Money · Markets Wrap: Bessent's Big Bet, Bond Yields and the AI Bubble · 11 Sep 2026 podcast

You've got enough to worry about choosing equities and equity funds without bothering your head about what's going to happen to the currency. voice-verified

You might as well kinda like take the swings with the roundabouts because hedging is essentially just taking that risk in a different way. voice-verified

I'm just curious, what's what's your take on that as someone who's more kinda you know, accustomed to the institutional side and thinking about currency hedging? voice-verified

Yeah. voice-verified

Interesting okay. voice-verified

So I so basically you're saying that if they do jump into Japanese equities and I am uh uh I I own the sterling uh version of these assets. voice-verified

So I guess what I'm saying is so if the pound if the if the yen goes up against sterling, then you're laughing, assuming that equities don't fall off a cliff. voice-verified

But what you're saying is that it might actually go the other way. voice-verified

Wait. voice-verified

So that's quite that's pretty interesting. voice-verified

So you reckon it's probably worth actually hedging your japping. voice-verified

I I think it's a good idea. voice-verified

They will on that bombshell. voice-verified

Uh shall we move on to bond yields generally? voice-verified

Um because obviously this is partly what Besson's headache is, but it's uh even more a massive headache for us here in the UK because we've got the highest bond yields in the G seven, and the reason for that is because we seem to have the most inflation prone economy in the G seven. voice-verified

Um and it doesn't really voice-verified

Look as if Andy Burnham and John Healy are especially inclined to tackle that issue, as far as I could see from Prime Minister's question time this week. voice-verified

Um I mean I know you saw it as well, but uh Kemi Badenok was saying to Andy Burnham, Look Well, you know, how are you gonna increase spending on defence and Burnham? voice-verified

Yeah. voice-verified

Um you know, too to Burnham and even to the kind of Starmer administration. voice-verified

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