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“Quantitative Destruction” leads in The Times

17th MAR. 2023

David Bowers and Ian Harnett have been talking to clients for some months about the risks, not of QT , but QD, “quantitative destruction” .

Today’s leader in the Times reiterates our concerns…

... "since the SVB collapse … any troubled institution (is) vulnerable to a loss of investor or depositor confidence. That skittishness is a response to what Ian Harnett and David Bowers of Absolute Strategy Research have dubbed the “quantitative destruction” now unfolding in the financial system, as institutions and structures that proliferated during the era of ultra-low interest rates start to unwind. Britain got an early taste of this when a sharp rise in government bond yields in the wake of Kwasi Kwarteng’s mini-budget nearly blew up the pension system. This process may have a long way to run…”  

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