Toby Nangle
@tobyn.bsky.social
13K followers 490 following 2.6K posts
FT Alphaville reporter. Ex-“veteran” fund manager. Resolution Foundation Assoc. Baring Foundation Trustee.
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tobyn.bsky.social
Still, even if it's not strictly central banks (who knows?), someone's been buying @katie0martin.ft.com's pet rock. And it seems likely govts are involved.
tobyn.bsky.social
How do the WGC go about estimating 'unreported' central bank purchases?

Turns out THIS IS NOT SOMETHING THEY EVEN DO.

(Though Metals Focus, an independent consultancy, do estimate CB + SWF + other supra purchases on the back of off-the-record chats)
tobyn.bsky.social
Most central banks purchases are NOT in the official data. The World Gold Council has them in its 'unreported' series (reproduced by the ECB, the Fed, everyone)
tobyn.bsky.social
I was so sad to hear this news today. Michael supervised my MPhil dissertation, and was both brilliant and charming.
tobyn.bsky.social
Just looked up Anthony Michael Hall, and it's not that he's aged badly, but no way I would've recognised him.
Anthony Michael Hall in 1985 Breakfast Club, and in 2024.
tobyn.bsky.social
I learnt a lot reading these 750 easy-to-digest expertly-written words on why these guys won their Nobel prize.
Reposted by Toby Nangle
janinegibson.ft.com
It’s kicking off in the Economics live blog
robinwigglesworth.ft.com
And the winners are Joel Mokyr, Philippe Aghion and Peter Howitt! For "having explained innovation-driven economic growth”, in the words of the committee.
robinwigglesworth.ft.com
The Nobel Prize for economics is due to be announced soon, and Alphaville is running a live blog to mark the occasion. www.ft.com/content/f392...
tobyn.bsky.social
Had understood that it was common language, and people to tweet at when America is asleep.

So less that UK is woke, and more just that it's awake.
Reposted by Toby Nangle
mccrum.bsky.social
This isn’t funny. Judges only speak to the press when they’re in extreme distress
leahlitman.bsky.social
More judges speak to the press (the NYT) about what a disaster the Supreme Court (specifically the shadow docket) has been - “incredibly demoralizing & troubling”; a “judicial crisis”; a “slap in the face to district courts.” www.nytimes.com/2025/10/11/u...
Excerpts Excerpts
Reposted by Toby Nangle
katie0martin.ft.com
"Now, we know what you’re thinking: this is all very stupid and funny. And we agree."
Reposted by Toby Nangle
peark.es
Absolute banger of a blog post from Dallas Fed economist Anton Cheremukhin who estimates breakeven payrolls have fallen to *30k* thanks to rapid declines in population growth.
www.dallasfed.org/research/eco...
Chart showing estimates of US population growth at monthly frequencies from 2017-2025 from BLS, BEA/Census, CBO, and author's calculations Estimated monthly contributions to monthly breakeven payroll growth across population, changes in institutionalization/civilian status, and labor force participation 2017 - 2025 Estimated monthly breakeven payrolls rate from 2022-2025
Reposted by Toby Nangle
tobyn.bsky.social
Japan at the vanguard of so many (genuine) first world problems. Always worth following how it deals with them. on.ft.com/4oeQJ5O
Japan has an ‘enshortification’ problem
An ageing workforce is affecting all sorts of professions
on.ft.com
tobyn.bsky.social
Top 1% are members of the top 10%, so the lines shouldn’t be summed.