Odd Lots: Meet the Man Who Turned David Bowie Into a Financial Product
Every week, hosts Tracy Alloway and Joe Weisenthal take you on a not-so-random walk through hot topics in markets, finance, and economics.
This week's episode of Odd Lots is brought to you by the letter 'B.'
To be more specific, we're talking Bowie bonds and the Beige Book.
When the world lost David Bowie last week, it lost one of modern music's undisputed geniuses. Less well-known is Bowie's contribution to the financial world. We speak with David Pullman, the banker who worked with Bowie to develop "Bowie Bonds," which paid investors the cash flows from the artist's song royalties. This episode covers how these securities came to be, what it was like working with David Bowie, and how the new breed of bonds made a lasting impact on financial markets.
Speaking of financial history, in this episode we also talk about the Beige Book, a monthly publication from the Federal Reserve that gives an anecdotal look at the U.S. economy. Joining us is Bloomberg News Editor Paul Cox, arguably the father of the Beige Book. (That's him reporting at the U.S. Treasury while rocking an impressive 1980s-style mustache in the photo at left.) Also joining us is Matt Boesler, Bloomberg Fed reporter, to discuss how investors analyze the book and what its shades of beige are telling us about the state of the U.S. economy right now.