The Impact of Negative Interest Rates
PRMIA Boston in collaboration with the Finance Department of the Sawyer Business School presents a two part series - Less Than Nothing May Mean Everything: The Impact of Negative Interest Rates.
Date:
July 28, 2020
July 29, 2020
Time:
4:00 p.m. - 6:00 p.m. EDT
Location:
These meetings will be run on the GoToWebinar platform. You will receive an email with the link prior to the events.
An almost unprecedented change has occurred in recent years that have shaken the foundations of modern finance to their core. Today, roughly 20% of all new sovereign bond issuance is occurring at negative interest rates. In some countries, even residential home mortgages are carrying negative rates. Central banks are pursuing controversial techniques such as negative interest rates, quantitative easing, and “modern monetary policy” to try to prevent deflation of the world economy.
On the other hand, at its founding in 1609 the Bank of Amsterdam (first government backed “central” bank) offered steeply negative rates of return on deposits of both gold bullion and coin. Similarly, financial institutions are thriving across the Muslim world despite a religious prohibition against charging any interest on loans. Our seminar will bring together four industry-leading experts to discuss how negative rates impact the global economy in general and financial institutions in particular.
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| Agenda - July 28 |
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Event |
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4:00 p.m. |
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Welcome Remarks from PRMIA Boston and Suffolk University |
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4:10 p.m. - 5:50 p.m. |
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Panel Discussion with Lisa Emsbo-Mattingly and Dan Fuss
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5:50 p.m. - 6:00 p.m. |
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Closing Remarks from PRMIA Boston and Suffolk University |
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| Agenda - July 29 |
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Time |
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Event |
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4:00 p.m. |
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Welcome Remarks from PRMIA Boston and Suffolk University |
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4:10 p.m. - 5:50 p.m. |
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Panel Discussion with Dan Cassidy and Carlos Morales |
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5:50 p.m. - 6:00 p.m. |
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Closing Remarks from PRMIA Boston and Suffolk University |
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Speakers
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Lisa Emsbo-Mattingly
Lisa has headed up Fidelity's asset allocation policy team since 2011. She spent 1996 until 2006 in their economic research area becoming Director of the department in 2003. She is a former president of both the National Association of Business Economists and the Boston Economic Club.
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Dan Fuss
Dan Fuss has enjoyed a more than sixty year career in investments. Having joined Loomis Sayles in 1976 he has since risen to his current position of Vice Chairman. Dan has been long considered among the top fixed income portfolio managers in the world having won numerous awards from industry voices such as Morningstar and Smart Money. Among his positions prior to joining Loomis was as a senior executive of the prominent Yale endowment.
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Dan Cassidy
Dan Cassidy is a nationally known actuary (FSA, EA, CFA) specializing in the areas of retirement, pensions and annuities. He merged his own firm into River and Mercantile Solutions. Previously he worked in the retirement practices of both Towers Perrin and Mercer. He is the author of one book and numerous contributions to the actuarial literature.
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Carlos Morales
Carlos is Director of Global Strategy at Liberty Mutual. Prior to joining LIMU, Carlos headed senior positions at Sentinel Investments, Wellington Management, GMO, and State Street. His work has principally been in quantitative and fixed income areas. Carlos has also pursued teaching as an Assistant Professor at Worcester Polytechnic Institute. |
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