The podcast lives up to its name this week with an in-depth look at conditions in fixed income, credit and FX markets as volatility spikes continue in markets generally. After a few observations on bitcoin’s failure to live up to its hype as a hedge in times of turmoil and conditions in the FX market generally, P&L’s managing editor Colin Lambert is joined by Mark Yallop, chair of the FICC Markets Standards Board to talk about recent developments in fixed income markets.

With automated trading very much to the fore in markets, the conversation then turns to the sensitive issue of managing these machines in an AI/deep learning environment. Yallop observes it is about so much more than the robustness of the algorithms and that there are questions of ethics, control and management to be considered as well. There is time for a look at how platform fragmentation is evolving in other asset classes than FX, as well as what the FCA’s call for input into market data means for providers and consumers.