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Athan Tolis explains how bond markets really work, why central banks have quietly delivered for asset owners, and where investors can still find alpha despite low yields and poor credit market liquidity. A candid conversation on bonds, interest rates, active vs passive investing, and why Trading Places tops his movie list.

Economist Jürgen Michels explains how to navigate economic noise, why German views on inflation differ from Anglo-American ones, and how tax systems may shift from labor to data in the future as Europe grapples with digital economies and unified fiscal policies.

Toby Hayes breaks down the concept of structural risk premia and how these strategies offer returns that are independent of market cycles, central bank moves, and investor sentiment. He explains how simplicity, clear signals, and a deep understanding of underlying markets help avoid crowded trades and backtest bias.