Thomas Aubrey
@thomasaubreycca.bsky.social
Credit risk, asset allocation, infrastructure, productivity, liberalism. @lse-ei.bsky.social @imperialcollegeldn (CSEP), @bennettschool.cam.ac.uk Author & founder @ http://creditcapitaladvisory.com 歐 睿
Reposted by Thomas Aubrey
Applications are now open for our new MPhil in Digital Policy starting Oct 2026.
The course will draw on the latest Bennett research & close collaboration with policymakers, business leaders, & civil society to address key challenges.
Find out more: www.bennettschool.cam.ac.uk/study/mphil-...
The course will draw on the latest Bennett research & close collaboration with policymakers, business leaders, & civil society to address key challenges.
Find out more: www.bennettschool.cam.ac.uk/study/mphil-...
November 11, 2025 at 3:12 PM
Applications are now open for our new MPhil in Digital Policy starting Oct 2026.
The course will draw on the latest Bennett research & close collaboration with policymakers, business leaders, & civil society to address key challenges.
Find out more: www.bennettschool.cam.ac.uk/study/mphil-...
The course will draw on the latest Bennett research & close collaboration with policymakers, business leaders, & civil society to address key challenges.
Find out more: www.bennettschool.cam.ac.uk/study/mphil-...
Good piece by @marymcd.bsky.social on insurers taking leveraged gilt bets to enhance returns ft.com/content/427a... One reason for this demand is the UK government has closed off the market for public corporation debt (pricing at c.50-100 bps above gilts) Crucially this debt would transform the rate
Leverage creeps into gilts market as insurers seek to boost returns
Use of derivatives to enhance bets on UK government bonds raises parallels with strategies that fuelled 2022 meltdown
ft.com
November 6, 2025 at 8:22 AM
Good piece by @marymcd.bsky.social on insurers taking leveraged gilt bets to enhance returns ft.com/content/427a... One reason for this demand is the UK government has closed off the market for public corporation debt (pricing at c.50-100 bps above gilts) Crucially this debt would transform the rate
Reposted by Thomas Aubrey
My Times piece: Why the Bank of England should not cut interest rates this week, ahead of the budget, and probably not again this year:
Bank of England would boost its credibility by not cutting rates
www.thetimes.com/article/e67e...
Bank of England would boost its credibility by not cutting rates
www.thetimes.com/article/e67e...
Bank of England would boost its credibility by not cutting rates
Though markets are set up for a close decision, they are on balance not expecting a cut. To reduce rates this week could put downward pressure on the pound
www.thetimes.com
November 4, 2025 at 4:47 PM
My Times piece: Why the Bank of England should not cut interest rates this week, ahead of the budget, and probably not again this year:
Bank of England would boost its credibility by not cutting rates
www.thetimes.com/article/e67e...
Bank of England would boost its credibility by not cutting rates
www.thetimes.com/article/e67e...
Why bond investors should support a letter to the Chancellor to use public corporation debt to drive growth & finance the next wave of urban extensions - (as it wont impact the public finances) henrytapper.com/2025/11/04/financing-the-next-wave-of-new-towns-investment-not-government-borrowing/
Financing the next wave of New Towns; investment not Government borrowing
I have been sent a blog from Tom Aubrey and Con Keating about how we pay for the new towns we need to house millions of people who aren’t living in their own places or living in places they&#…
henrytapper.com
November 4, 2025 at 8:57 AM
Why bond investors should support a letter to the Chancellor to use public corporation debt to drive growth & finance the next wave of urban extensions - (as it wont impact the public finances) henrytapper.com/2025/11/04/financing-the-next-wave-of-new-towns-investment-not-government-borrowing/
Reposted by Thomas Aubrey
BBCFOUR tonight (and onwards) is showing the original series Edge of Darkness - please book your seat now.. www.bbc.co.uk/iplayer/epis...
Edge of Darkness - Series 1: 1. Compassionate Leave
Thriller set in a world of obsessive state security. Ronald Craven is haunted by the murder of his daughter and begins his own investigation into her death.
www.bbc.co.uk
November 1, 2025 at 11:20 AM
BBCFOUR tonight (and onwards) is showing the original series Edge of Darkness - please book your seat now.. www.bbc.co.uk/iplayer/epis...
www.ft.com/content/399a... Good opportunity for Schaeffler to set up manufacturing plant in the US for its electric motors which can substitute a majority of rare earth magnet applications.
China ‘made a real mistake’ by ‘firing shots’ on rare earths, says Scott Bessent
US Treasury secretary says US will protect itself from supply shocks in 12-24 months
www.ft.com
October 31, 2025 at 5:53 PM
www.ft.com/content/399a... Good opportunity for Schaeffler to set up manufacturing plant in the US for its electric motors which can substitute a majority of rare earth magnet applications.
Reposted by Thomas Aubrey
Our Visiting Senior Fellow Dr Thomas Aubrey @thomasaubreycca.bsky.social has published a new article in The European Legacy, which discusses the decline of the Liberal International Order and why liberals should embrace it.
Read more 👇
Read more 👇
Why liberals should embrace the demise of the ‘liberal international order’
Our Visiting Senior Fellow Dr Thomas Aubrey has published a new article in The European Legacy, which discusses the decline of the Liberal International Order and why liberals should embrace it.
www.lse.ac.uk
October 31, 2025 at 12:01 PM
Our Visiting Senior Fellow Dr Thomas Aubrey @thomasaubreycca.bsky.social has published a new article in The European Legacy, which discusses the decline of the Liberal International Order and why liberals should embrace it.
Read more 👇
Read more 👇
UK firm gets funding for green fertilizer project in Paraguay www.proactiveinvestors.co.uk/companies/ne...
World Bank arm signs off investment in ATOME’s $630m Paraguay fertiliser project
ATOME PLC (AIM:ATOM), the London-listed developer of low-carbon fertiliser, has secured support from the International Finance Corporation (IFC), the...
www.proactiveinvestors.co.uk
October 30, 2025 at 9:43 AM
UK firm gets funding for green fertilizer project in Paraguay www.proactiveinvestors.co.uk/companies/ne...
Will be interesting to see how quickly European car makers start to remove rare earth magnet electric motors and replace them with products from Schaeffler. C. 60% of demand for rare earths are for magnets and C. 60% of rare earth magnets www.theguardian.com/business/202... @lisaocarroll.bsky.social
EU carmakers ‘days away’ from halting work as chip war with China escalates
Industry body says reserves of Nexperia semiconductors are dwindling after Beijing bans exports of key components
www.theguardian.com
October 30, 2025 at 8:19 AM
Will be interesting to see how quickly European car makers start to remove rare earth magnet electric motors and replace them with products from Schaeffler. C. 60% of demand for rare earths are for magnets and C. 60% of rare earth magnets www.theguardian.com/business/202... @lisaocarroll.bsky.social
Reposted by Thomas Aubrey
Very much looking forward to discussing my book ‘Your Life is Manufactured’ with the wonderful Professor Sharon Peacock on 4th November at Churchill College.
Tickets are free -book via www.chu.cam.ac.uk/event/10570/
#booksky #making #manufacturing
@churchillcol.bsky.social
@faberbooks.bsky.social
Tickets are free -book via www.chu.cam.ac.uk/event/10570/
#booksky #making #manufacturing
@churchillcol.bsky.social
@faberbooks.bsky.social
The Master's Book Club - Churchill College
Join us to hear from Churchill College Fellow Prof. Tim Minshall in conversation with the Master of Churchill College, Prof. Sharon Peacock, as they discuss his book: Your Life is Manufactured: How We...
www.chu.cam.ac.uk
October 28, 2025 at 9:50 PM
Very much looking forward to discussing my book ‘Your Life is Manufactured’ with the wonderful Professor Sharon Peacock on 4th November at Churchill College.
Tickets are free -book via www.chu.cam.ac.uk/event/10570/
#booksky #making #manufacturing
@churchillcol.bsky.social
@faberbooks.bsky.social
Tickets are free -book via www.chu.cam.ac.uk/event/10570/
#booksky #making #manufacturing
@churchillcol.bsky.social
@faberbooks.bsky.social
Reposted by Thomas Aubrey
I’ve written for @financialtimes.com about the need for belief in the future to get things built on.ft.com/47cO3Qs Why optimists build better infrastructure
Why optimists build better infrastructure
History credits the Victorians for their grand — and enduring — schemes but we need our eyes on the future to emulate them
on.ft.com
October 29, 2025 at 6:25 PM
I’ve written for @financialtimes.com about the need for belief in the future to get things built on.ft.com/47cO3Qs Why optimists build better infrastructure
Delighted that my article on liberal international relations theory and Isaiah Berlin is now out. www.tandfonline.com/doi/full/10.... Might be of interest to @padamson.bsky.social @cerianbond.bsky.social
Why Liberals Should Embrace the Demise of the ‘Liberal International Order’
The decline of the Liberal International Order is increasingly acknowledged by observers of international relations. This decline has left liberals struggling to respond to the rise of a more reali...
www.tandfonline.com
October 27, 2025 at 6:37 PM
Delighted that my article on liberal international relations theory and Isaiah Berlin is now out. www.tandfonline.com/doi/full/10.... Might be of interest to @padamson.bsky.social @cerianbond.bsky.social
Delighted that my article on liberal international relations theory and Isaiah Berlin is now out. www.tandfonline.com/doi/full/10.... @michaelkenny.bsky.social @chrisbrooke.bsky.social @lse-ei.bsky.social
Why Liberals Should Embrace the Demise of the ‘Liberal International Order’
The decline of the Liberal International Order is increasingly acknowledged by observers of international relations. This decline has left liberals struggling to respond to the rise of a more reali...
www.tandfonline.com
October 27, 2025 at 5:46 PM
Delighted that my article on liberal international relations theory and Isaiah Berlin is now out. www.tandfonline.com/doi/full/10.... @michaelkenny.bsky.social @chrisbrooke.bsky.social @lse-ei.bsky.social
Reposted by Thomas Aubrey
My Sunday Times piece: The negative effects of Brexit on trade, investment, growth and productivity have re-emerged ahead of the November 26 budget. Plus: scrapping the 60% marginal rate would cost a lot:
Why the economic fallout from Brexit is a hot issue again
www.thetimes.com/article/aa8a...
Why the economic fallout from Brexit is a hot issue again
www.thetimes.com/article/aa8a...
Why the economic fallout from Brexit is a hot issue again
As Rachel Reeves readies tax rises, the UK’s exit from the EU has left productivity, growth and trade in a worse place than they would have been
www.thetimes.com
October 25, 2025 at 2:40 PM
My Sunday Times piece: The negative effects of Brexit on trade, investment, growth and productivity have re-emerged ahead of the November 26 budget. Plus: scrapping the 60% marginal rate would cost a lot:
Why the economic fallout from Brexit is a hot issue again
www.thetimes.com/article/aa8a...
Why the economic fallout from Brexit is a hot issue again
www.thetimes.com/article/aa8a...
www.reuters.com
October 21, 2025 at 8:44 AM
This approach is unlikely to result in positive productivity growth as it's targeting low value-added sectors while higher value added sectors remain in decline...
Reeves launches ‘blitz’ on red tape in bid to save £6bn a year for UK business on.ft.com/43srGnC
Reeves launches ‘blitz’ on red tape in bid to save £6bn a year for UK business
Chancellor aims to scrap ‘pointless paperwork’ and will also pledge to make M&A rules more transparent
on.ft.com
October 21, 2025 at 5:20 AM
This approach is unlikely to result in positive productivity growth as it's targeting low value-added sectors while higher value added sectors remain in decline...
UK Productivity: A short comment on the Resolution Foundation analysis that states the UK has received a boost in productivity growth. www.resolutionfoundation.org/publications... which was covered in the FT here: www.ft.com/content/734f... 1) Upward revisions of GVA will boost growth which is +ve
Trend setters • Resolution Foundation
The Budget in November is likely to reveal a significant deterioration in the outlook for the public finances, requiring the Government to raise taxes in response. A key reason for this is what the Of...
www.resolutionfoundation.org
October 15, 2025 at 6:07 AM
UK Productivity: A short comment on the Resolution Foundation analysis that states the UK has received a boost in productivity growth. www.resolutionfoundation.org/publications... which was covered in the FT here: www.ft.com/content/734f... 1) Upward revisions of GVA will boost growth which is +ve
Important article from The Economist on why Zero Migration will be the most significant Trump policy - with macroeconomic implications. economist.com/finance-and-... "Stephen Miran...has argued that the net effect of lower migration will be lower inflation. That is implausible." For anyone that has
Welcome to Zero Migration America
Closed borders will make the country smaller, poorer and less innovative
economist.com
October 14, 2025 at 3:54 PM
Important article from The Economist on why Zero Migration will be the most significant Trump policy - with macroeconomic implications. economist.com/finance-and-... "Stephen Miran...has argued that the net effect of lower migration will be lower inflation. That is implausible." For anyone that has
Reposted by Thomas Aubrey
There's still time to sign up for this Thursday's webinar with Nuriye Melisa Bilgin: tinyurl.com/mr37sjsr
How do the benefits of new technology adoption ripple through supply chains? Can firms that don’t adopt still see gains in productivity and growth?
Join us for our next webinar on Thursday 16 October 2025 with Nuriye Melisa Bilgin (University of Turin): tinyurl.com/mr37sjsr
Join us for our next webinar on Thursday 16 October 2025 with Nuriye Melisa Bilgin (University of Turin): tinyurl.com/mr37sjsr
Technology spillovers, diffusion, and rivalry in firm networks - ESCoE
Learn how adopting robots in one part of a supply chain sparks productivity gains and encourages innovation across connected firms.
tinyurl.com
October 14, 2025 at 12:01 PM
There's still time to sign up for this Thursday's webinar with Nuriye Melisa Bilgin: tinyurl.com/mr37sjsr
Very good piece by @undercoverhist.bsky.social on methodology, innovation and the Nobel Prize for economics beatricecherrier.wordpress.com/2025/10/13/w...
What does a Nobel Prize on ‘innovation-driven economic growth’ actually reward?
A historian’s perspective on how to deal with the Nobel frenzy I generally try to stay away from the Economics Nobel frenzy, if only because the hyper-personalization of scientific achievemen…
beatricecherrier.wordpress.com
October 14, 2025 at 10:10 AM
Very good piece by @undercoverhist.bsky.social on methodology, innovation and the Nobel Prize for economics beatricecherrier.wordpress.com/2025/10/13/w...
Great article from @dsmitheconomics.bsky.social who
kindly quoted my research on funding & financing infrastructure without negatively impacting the public finances. The Chancellor can pursue an alternative path.. @greenmirandahere.bsky.social @tonytassell.bsky.social @pmdfoster.bsky.social
kindly quoted my research on funding & financing infrastructure without negatively impacting the public finances. The Chancellor can pursue an alternative path.. @greenmirandahere.bsky.social @tonytassell.bsky.social @pmdfoster.bsky.social
My Times piece: We can learn from the Netherlands on how better to finance infrastructure spending and more house building, without spooking the markets:
It’s time to go Dutch to solve Britain’s housing crisis
www.thetimes.com/article/ce46...
It’s time to go Dutch to solve Britain’s housing crisis
www.thetimes.com/article/ce46...
It’s time to go Dutch to solve Britain’s housing crisis
Using public corporations to finance infrastructure promises to revolutionise the nation’s prospects
www.thetimes.com
October 8, 2025 at 6:52 AM
Great article from @dsmitheconomics.bsky.social who
kindly quoted my research on funding & financing infrastructure without negatively impacting the public finances. The Chancellor can pursue an alternative path.. @greenmirandahere.bsky.social @tonytassell.bsky.social @pmdfoster.bsky.social
kindly quoted my research on funding & financing infrastructure without negatively impacting the public finances. The Chancellor can pursue an alternative path.. @greenmirandahere.bsky.social @tonytassell.bsky.social @pmdfoster.bsky.social
www.ft.com/content/7345... Highlights the flaw at the heart of the Chancellor's strategy in centralising financing in the hope that future productivity growth increases. But there are other alternatives. www.bennettschool.cam.ac.uk/blog/financing-infrastructure-without-unnerving-the-bond-market/
Pimco and BlackRock tell Reeves to build bigger fiscal buffer
Big bond investors say chancellor needs to go beyond slim £9.9bn of margin left against key borrowing rule
www.ft.com
October 8, 2025 at 6:35 AM
www.ft.com/content/7345... Highlights the flaw at the heart of the Chancellor's strategy in centralising financing in the hope that future productivity growth increases. But there are other alternatives. www.bennettschool.cam.ac.uk/blog/financing-infrastructure-without-unnerving-the-bond-market/
Reposted by Thomas Aubrey
My Times piece: We can learn from the Netherlands on how better to finance infrastructure spending and more house building, without spooking the markets:
It’s time to go Dutch to solve Britain’s housing crisis
www.thetimes.com/article/ce46...
It’s time to go Dutch to solve Britain’s housing crisis
www.thetimes.com/article/ce46...
It’s time to go Dutch to solve Britain’s housing crisis
Using public corporations to finance infrastructure promises to revolutionise the nation’s prospects
www.thetimes.com
October 7, 2025 at 5:29 PM
My Times piece: We can learn from the Netherlands on how better to finance infrastructure spending and more house building, without spooking the markets:
It’s time to go Dutch to solve Britain’s housing crisis
www.thetimes.com/article/ce46...
It’s time to go Dutch to solve Britain’s housing crisis
www.thetimes.com/article/ce46...
Great podcast on the vertical integration between the chemicals and pharma sector in China and how it became dominant globally www.youtube.com/watch?v=8g4l...
China’s Influence in Pharmaceutical Supply Chains: A Conversation with Dr. Yanzhong Huang
YouTube video by Center for Strategic & International Studies
www.youtube.com
October 4, 2025 at 11:23 AM
Great podcast on the vertical integration between the chemicals and pharma sector in China and how it became dominant globally www.youtube.com/watch?v=8g4l...
Innovation in China: Launch of commercial underwater data centre www.tomshardware.com/desktops/servers/china-to-launch-commercial-underwater-data-center-facility-expected-to-consume-90-percent-less-power-for-cooling
China to launch commercial underwater data center — facility expected to consume 90% less power for cooling
Natural immersion cooling saves a lot of power.
www.tomshardware.com
October 4, 2025 at 10:32 AM
Innovation in China: Launch of commercial underwater data centre www.tomshardware.com/desktops/servers/china-to-launch-commercial-underwater-data-center-facility-expected-to-consume-90-percent-less-power-for-cooling