CHANGE MANAGEMENT This interview with Robin is genuinely worth your time. It covers a broad sweep of the tectonic shifts currently reshaping capital markets, and does so with considerable clarity. There are many takeaways, but the thread that runs through all of them is increasingly hard to ignore: most developed economies, with a handful of exceptions, are quietly running out of options. The trajectory of fiscal deterioration and sovereign debt dynamics points toward yield curve control (YCC) as an eventual necessity, mirroring the path Japan has been navigating for years. The corollary of that, almost inevitably, is sustained currency weakness across the affected economies. In that environment, the case for repositioning toward low-beta assets as a means of capital preservation is not merely theoretical. For many, it is already the operative framework. Well worth 38 minutes of your attention.