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2021</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/06/crb-1995-to-2021.png</image:loc><image:title>CRB 1995 to 2021</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/06/baker-hughes-rig-count-10yr.png</image:loc><image:title>Baker Hughes Rig Count 10yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/06/aus_chart1_20200817-janus-henderson.png</image:loc><image:title>Aus_Chart1_20200817 Janus Henderson</image:title></image:image><lastmod>2021-06-18T07:13:23+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2021/05/21/first-in-first-out-china-as-a-leading-indicator/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/05/v-shaped-recovery-geopolitical-futures.png</image:loc><image:title>V-shaped Recovery - Geopolitical 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Inflation</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/05/china-v-us-gdp-growth-tradingeconomics.png</image:loc><image:title>China v US GDP Growth - Tradingeconomics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/05/china-v-us-10yr-bond-tradingeconomics.png</image:loc><image:title>China v US 10yr Bond - Tradingeconomics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/05/china-shanghai-composite-v-sp500.png</image:loc><image:title>China Shanghai Composite v S&amp;P500</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/05/china-m0-m2-money-supply.png</image:loc><image:title>China M0 &amp; M2 Money Supply</image:title></image:image><lastmod>2021-05-21T11:39:46+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2021/05/07/digital-currencies-and-us-dollar-dominance/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/05/bitcoinusd-800x508-2.jpg</image:loc><image:title>bitcoinusd-800x508</image:title></image:image><lastmod>2021-05-10T19:56:44+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2021/03/19/debt-or-taxes/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/03/debt-800x508-1.jpg</image:loc><image:title>debt-800x508</image:title></image:image><lastmod>2021-03-19T18:53:07+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2021/02/26/a-review-of-stock-market-valuations-part-2/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/usgg10yr_ind.png</image:loc><image:title>usgg10yr_ind</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/us-m2-rate-of-growth-1950-2020-gavekal.png</image:loc><image:title>US 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Felder</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/us-savings-rate-bea-haver-analytics-federal-reserve.png</image:loc><image:title>US Savings Rate - BEA, Haver Analytics, Federal Reserve</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/stimulus-2008-v-2020.png</image:loc><image:title>Stimulus 2008 v 2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/sp-valuation-source-crescat-capital-doug-kass.png</image:loc><image:title>S&amp;P Valuation Source - Crescat Capital - Doug Kass</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/sp-total-return-since-1885.png</image:loc><image:title>S&amp;P Total return since 1885</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/sp-reported-earnings-history-and-trends-source-crestmont-research.png</image:loc><image:title>S&amp;P Reported earnings - history and trends - Source - Crestmont Research</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/sp-earnings-yield-meanwhile-in-the-markets.jpg</image:loc><image:title>S&amp;P Earnings Yield - Meanwhile in the Markets</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/02/number-of-us-listed-stocks-ft-world-bank.png</image:loc><image:title>Number of US listed stocks - FT World bank</image:title></image:image><lastmod>2021-02-19T08:14:08+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2021/01/29/podcast-with-max-gottlich-22-01-2021/</loc><lastmod>2021-01-29T09:02:29+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2021/01/22/the-fiscal-centralization-of-europe-will-not-end-well/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2021/01/frankfurt-800x508-2.jpg</image:loc><image:title>frankfurt-800x508</image:title></image:image><lastmod>2021-01-22T10:23:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/12/31/us-stocks-in-2020-and-the-prospects-for-2021/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/us-eu-and-oecd-unemployment-e28093-2000-2020.png</image:loc><image:title>US, EU and OECD Unemployment – 2000 - 2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/us-personal-savings-rate-since-1960.png</image:loc><image:title>US Personal savings rate since 1960</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/us-m2-rate-of-growth-1950-2020-gavekal.png</image:loc><image:title>US M2 Rate-of-Growth 1950 2020 Gavekal</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/stimulus-2008-v-2020.png</image:loc><image:title>Stimulus 2008 v 2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/sp-500-and-sectors-ytd-performance-dec-29th-2020-1.png</image:loc><image:title>S&amp;P 500 and sectors YTD performance Dec 29th 2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/revised-fiscal-firepower-eng-may-11-image-fm-chap-1-chart-2-2-600x757-1.png</image:loc><image:title>REVISED-fiscal-firepower-eng-may-11-image-fm-chap-1-chart-2-2-600x757</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/money-supply-growth-dallas-fed.png</image:loc><image:title>Money Supply Growth - Dallas Fed</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/global-m2-growth-yardeni-17-12-2020.png</image:loc><image:title>Global M2 Growth - Yardeni - 17-12-2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/consumer-spending-q1-to-q3-2020-deloitte.png</image:loc><image:title>Consumer Spending Q1 to Q3 2020 - Deloitte</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/12/change-in-consumer-spending-nebr.png</image:loc><image:title>Change in consumer spending NEBR</image:title></image:image><lastmod>2022-07-14T03:39:15+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/11/27/relax-rotate-reflate/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/stimulus-2008-v-2020.png</image:loc><image:title>Stimulus 2008 v 2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/sp-msci-em-msci-europe-1yr.png</image:loc><image:title>S&amp;P, MSCI EM, MSCI Europe - 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/sp-v-russell-2000-1yr.png</image:loc><image:title>S&amp;P V Russell 2000 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/sp-sectors-1yr-barchart.com_.png</image:loc><image:title>S&amp;P Sectors 1yr Barchart.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/industry-sectors-tradingview.png</image:loc><image:title>Industry Sectors - Tradingview</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/change-in-trade-old-vs-new-ecipe.png</image:loc><image:title>Change in Trade - Old vs New - ECIPE</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/bls-cpi-1941-to-1951.png</image:loc><image:title>BLS CPI 1941 to 1951</image:title></image:image><lastmod>2020-11-27T08:11:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/11/20/global-money-supply-growth-and-the-great-inflation-getaway/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/moneybomb-800x508-1.jpg</image:loc><image:title>moneybomb-800x508</image:title></image:image><lastmod>2020-11-20T08:02:18+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/11/06/the-prospects-for-emerging-and-frontier-markets-in-the-post-covid-environment/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/worker-replacement-mckinsey-1.png</image:loc><image:title>worker replacement mckinsey</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/robots-imf-1.png</image:loc><image:title>robots - IMF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/rebucci29junetable1-1.png</image:loc><image:title>rebucci29junetable1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/gede4n4aze-1.png</image:loc><image:title>GEde4N4aze</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/foreign-ownership-of-local-currency-bonds-1.png</image:loc><image:title>Foreign Ownership of Local Currency bonds</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/eng-weo-blog-oct-26-chart-3-768x816-imf-1.png</image:loc><image:title>eng-weo-blog-oct-26-chart-3-768x816 IMF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/em-local-currency-bond-issuance-iif-1.png</image:loc><image:title>EM Local currency bond issuance IIF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/bond-yield-spreads-since-jan-2020-imf-1.jpg</image:loc><image:title>Bond yield spreads since Jan 2020 - IMF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/11/20200502_bbc380-1.png</image:loc><image:title>20200502_BBC380</image:title></image:image><lastmod>2020-11-06T00:15:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/10/30/musings-on-low-interest-rates-and-skewed-asset-prices-transfin-podcast-91/</loc><lastmod>2020-10-30T11:48:03+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/09/04/step-change-at-the-fed-reaching-for-the-stars/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/fredgraph-8.png</image:loc><image:title>fredgraph (8)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/http___com.ft_.imagepublish.upp-prod-eu.s3.amazonaws.png</image:loc><image:title>http___com.ft.imagepublish.upp-prod-eu.s3.amazonaws</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/https___d6c748xw2pzm8.cloudfront.net_prod_9653ffa0-ed2d-11ea-86cc-3dadc4df7bd5-standard.png</image:loc><image:title>https___d6c748xw2pzm8.cloudfront.net_prod_9653ffa0-ed2d-11ea-86cc-3dadc4df7bd5-standard</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/fredgraph-7.png</image:loc><image:title>fredgraph (7)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/fredgraph-6.png</image:loc><image:title>fredgraph (6)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/five-largest-stocks.png</image:loc><image:title>five largest stocks</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/el2020-22-1.png</image:loc><image:title>el2020-22-1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/09/5-positive-stock-market-performance.png</image:loc><image:title>5% + Positive Stock Market Performance</image:title></image:image><lastmod>2020-09-04T06:19:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/08/21/when-does-a-recession-become-a-depression/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/08/us-gdp-1929-to-1942-1.png</image:loc><image:title>US GDP 1929 to 1942</image:title></image:image><lastmod>2020-08-21T07:00:14+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/08/14/is-this-the-end-of-globalization/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/08/global-supply-chain-800x481-1.png</image:loc><image:title>global-supply-chain-800x481</image:title></image:image><lastmod>2020-08-14T07:12:07+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/07/10/the-dangers-to-prosperity-all-around-us/</loc><lastmod>2020-07-10T09:31:09+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/06/26/after-the-flood-beyond-fiscal-and-monetary-intervention/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/revised-fiscal-firepower-eng-may-11-image-fm-chap-1-chart-2-2-600x757-1.png</image:loc><image:title>REVISED-fiscal-firepower-eng-may-11-image-fm-chap-1-chart-2-2-600x757</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/global-employment-by-sector-e28093-services-e28093-agriculture-industry-1.png</image:loc><image:title>Global Employment by Sector – Services – Agriculture - Industry (1)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/deloitte-fig-2-1.png</image:loc><image:title>Deloitte Fig 2 (1)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/deloitte-fig-1-1.png</image:loc><image:title>Deloitte Fig 1 (1)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/cb-balance-sheets-yardeni.png</image:loc><image:title>CB Balance Sheets - Yardeni</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/20200502_bbc380.png</image:loc><image:title>20200502_BBC380</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/in-the-long-run-small-colour-logo.png</image:loc><image:title>in-the-long-run-small-colour-logo</image:title></image:image><lastmod>2020-06-26T06:22:32+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/about/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/2-eblog_badge_2018.png</image:loc><image:title>2 eblog_badge_2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/1-focus-economics-2018.png</image:loc><image:title>1 Focus Economics - 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/2-economics_blog_2019-02.png</image:loc><image:title>2 Economics_blog_2019-02</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/11/intelligent-economist-ie_badge_17_final.png</image:loc><image:title>Intelligent Economist - IE_Badge_17_FINAL</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/11/focus-economics-bloggersbadge_final.png</image:loc><image:title>focus-economics-bloggersbadge_final</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/11/026i_c2866.jpg</image:loc><image:title>026i_c2866</image:title></image:image><lastmod>2020-06-16T08:11:57+00:00</lastmod><changefreq>weekly</changefreq><priority>0.6</priority></url><url><loc>https://inthelongrun.co.uk/consulting/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/1-economics-blog-2020.png</image:loc><image:title>1 Economics-Blog-2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/3-econ_blog_badge_2018.png</image:loc><image:title>3 econ_blog_badge_2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/3-intelligent-economist-2017.png</image:loc><image:title>3 Intelligent Economist - 2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/1-focus-economics-2018.png</image:loc><image:title>1 Focus Economics - 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/smalllogo.png</image:loc><image:title>SmallLogo</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/smalllogobw.png</image:loc><image:title>SmallLogoBW</image:title></image:image><lastmod>2020-06-16T08:09:08+00:00</lastmod><changefreq>weekly</changefreq><priority>0.6</priority></url><url><loc>https://inthelongrun.co.uk/2020/06/12/the-giant-debt-for-equity-swap/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/heavydebt-800x534-1.png</image:loc><image:title>heavydebt-800x534</image:title></image:image><lastmod>2020-06-12T06:53:09+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/06/05/a-brave-new-world-for-value-investing/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/nasdaq-100-v-spx-v-msci-yahoo-finance-1.png</image:loc><image:title>Nasdaq 100 v SPX v MSCI - Yahoo Finance (1)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/fredgraph-1-hy-ytd.png</image:loc><image:title>fredgraph (1) HY YTD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/2-us-debt-issuance-20-05-2020.png</image:loc><image:title>2-US-debt-issuance-20-05-2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/06/1-us-debt-issuance-20-05-2020-refinitiv.png</image:loc><image:title>1-US-debt-issuance-20-05-2020 refinitiv</image:title></image:image><lastmod>2020-06-05T05:53:26+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/04/17/a-rose-by-any-other-name-corona-bonds-and-the-future-of-the-eurozone/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/04/european-bond-yields-2005-2014-bloomberg.gif</image:loc><image:title>European Bond Yields - 2005 - 2014 - Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/04/spreads-in-april-2014.png</image:loc><image:title>Spreads in April 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/04/spanish-bono-vs-italian-btp-10yr-yield-spread-chart-march-31st-2020.png</image:loc><image:title>Spanish BONO vs Italian BTP 10yr Yield Spread Chart - March 31st 2020</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/04/european-bond-spread-chart-march-april-2020.png</image:loc><image:title>European Bond Spread chart March April 2020</image:title></image:image><lastmod>2020-04-17T06:33:51+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/03/27/libor-is-out-sofr-is-in-what-it-means/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/liborfall-800x533-1.jpg</image:loc><image:title>liborfall-800x533</image:title></image:image><lastmod>2020-03-27T08:36:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/03/13/epidemics-economic-growth-and-stock-market-performance-an-historical-perspective/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/us-bonds-jan-1918-to-dec-1919-.png</image:loc><image:title>US Bonds Jan 1918 to Dec 1919</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/testing-for-covid-19-9-3-2020-worldometer.com_.png</image:loc><image:title>Testing for COVID-19 - 9-3-2020 - Worldometer.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/government-response-to-covid-19.png</image:loc><image:title>Government response to COVID-19</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/fredgraph.png</image:loc><image:title>fredgraph</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/economist-gdp-revisions-from-q4-2019-to-q1-2020-oecd.png</image:loc><image:title>Economist GDP revisions from Q4 2019 to Q1 2020 OECD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/dow-jones-1918-to-1923-macrotrends.png</image:loc><image:title>dow-jones- 1918 to 1923 Macrotrends</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/03/china-pmi.png</image:loc><image:title>China PMI</image:title></image:image><lastmod>2020-03-13T07:48:48+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/02/13/when-the-facts-change/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/02/credit-multiplier.png</image:loc><image:title>Credit Multiplier</image:title></image:image><lastmod>2020-06-05T12:20:38+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/12/20/2134/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/united-kingdom-inflation-cpi-since-2016.png</image:loc><image:title>united-kingdom-inflation-cpi since 2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/united-kingdom-inflation-cpi-since-2010.png</image:loc><image:title>united-kingdom-inflation-cpi since 2010</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/uk-trade-balance.png</image:loc><image:title>UK Trade Balance</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/uk-nationalisation-tragets-v-ftse-350.png</image:loc><image:title>UK Nationalisation Tragets v FTSE 350</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/sterling-effective-exchange-rate-since-2016.png</image:loc><image:title>Sterling Effective Exchange Rate since 2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/sterling-effective-exchange-rate-since-2000.png</image:loc><image:title>Sterling Effective Exchange Rate since 2000</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/gdp-uk-v-eu.png</image:loc><image:title>GDP UK v EU</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/ftse-100-vs-250-10yr.png</image:loc><image:title>FTSE 100 vs 250 10yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/gdp-comparison-since-2016.png</image:loc><image:title>GDP comparison since 2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/ftse-100-vs-250-4yr.png</image:loc><image:title>FTSE 100 vs 250 - 4yr</image:title></image:image><lastmod>2020-02-10T08:49:55+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2020/01/16/us-bonds-2030-vision-a-decade-in-the-doldrums/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/01/qe-effect.png</image:loc><image:title>QE effect</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2020/01/demographics.png</image:loc><image:title>Demographics</image:title></image:image><lastmod>2020-01-16T22:44:58+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/12/13/demographic-decline-opportunity-or-threat/</loc><lastmod>2019-12-13T08:03:44+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/12/06/state-of-the-markets-74-colin-lloyd/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/12/2011369-1573216906017-f481f23007f7a.png</image:loc><image:title>2011369-1573216906017-f481f23007f7a</image:title></image:image><lastmod>2019-12-06T06:58:37+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/11/29/leveraged-loans-history-rhyming/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/11/leveraged-loans.png</image:loc><image:title>Leveraged Loans</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/11/how-large-is-the-leveraged-loan-market-chart-a.png</image:loc><image:title>how-large-is-the-leveraged-loan-market-chart-a</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/11/lev-loans-spreads.png</image:loc><image:title>Lev Loans spreads</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/11/clos.png</image:loc><image:title>CLOs</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/11/boe-clo-heat-map.png</image:loc><image:title>BOE CLO heat map</image:title></image:image><lastmod>2019-11-29T07:48:15+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/11/15/the-economic-future-of-a-negative-interest-rate-world/</loc><lastmod>2019-11-15T07:07:13+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/09/06/aier-u-s-dollar-supremacy-could-quickly-fade/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/09/dollarfade.jpg</image:loc><image:title>dollarfade</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/09/american-institute-for-economic-research.png</image:loc><image:title>American Institute for Economic Research</image:title></image:image><lastmod>2019-11-14T14:16:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/10/18/fragility-what-the-us-money-market-squeeze-means-for-the-future/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/sofr-ytd.png</image:loc><image:title>SOFR YTD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/ioer-sofr.png</image:loc><image:title>IOER - SOFR</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/fed-effective-rate-1yr.png</image:loc><image:title>Fed Effective Rate - 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/sofr-and-effr.png</image:loc><image:title>SOFR and EFFR</image:title></image:image><lastmod>2019-10-18T05:54:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/10/04/value-momentum-and-carry-is-it-time-for-equity-investors-to-switch/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/fredgraph-8.png</image:loc><image:title>fredgraph (8)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/growthfactors_exhibit_2.png</image:loc><image:title>GrowthFactors_Exhibit_2</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/f226feaceadbe054cd0a2a9c19c06082_buying-cheap-fig1_tcm17-20864_639x0.png</image:loc><image:title>f226feaceadbe054cd0a2a9c19c06082_buying-cheap-fig1_tcm17-20864_639x0</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/10/e918dbcd886cb734f02aff26c491667f_buying-cheap-fig-2_tcm17-20865_639x0.png</image:loc><image:title>e918dbcd886cb734f02aff26c491667f_buying-cheap-fig-2_tcm17-20865_639x0</image:title></image:image><lastmod>2019-10-04T06:06:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/09/27/the-pension-fund-apocalypse/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/09/pensionfund.png</image:loc><image:title>pensionfund</image:title></image:image><lastmod>2019-09-27T06:11:06+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/09/13/uncertainty-and-the-countdown-to-the-us-presidential-elections/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/09/vix-index-daily.png</image:loc><image:title>VIX Index Daily</image:title></image:image><lastmod>2019-09-13T06:26:58+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/08/23/chinese-currency-manipulation-trumps-petard/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/08/china-currency-1993-2019.png</image:loc><image:title>china-currency 1993-2019</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/08/united-states-currency.png</image:loc><image:title>united-states-currency</image:title></image:image><lastmod>2019-08-23T05:43:05+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/07/12/low-yield-no-yield-negative-yield-buy-now-but-dont-forget-to-sell/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/07/us-vs-ez-hy-bloomberg.png</image:loc><image:title>US vs EZ HY - Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/07/eurozone-aaa-bond-yields-vs-all-bonds-ecb.png</image:loc><image:title>Eurozone AAA bond Yields vs All Bonds - ECB</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/07/bloomberg-negative-yield-21st-june-2019.png</image:loc><image:title>Bloomberg - Negative Yield - 21st June 2019</image:title></image:image><lastmod>2019-07-12T05:02:27+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/06/28/interest-rates-global-value-chains-and-bank-reserve-requirements/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/the-arrival-of-china-2000-2017.png</image:loc><image:title>The Arrival Of China 2000-2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/ratio-of-world-goods-to-gdp-2000-2018.png</image:loc><image:title>Ratio of World Goods to GDP 2000 - 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/global-money-velocity-tom-drake-bea-fred-ecb-boj-china-nbs-uk-ons.png</image:loc><image:title>Global Money Velocity - Tom Drake, BEA, FRED, ECB, BoJ, China NBS, UK ONS</image:title></image:image><lastmod>2019-06-28T06:53:18+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/06/13/gold-is-it-all-that-glisters/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/usd-index-1971-1981.png</image:loc><image:title>USD Index 1971 - 1981</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/statistic_id267998_value-of-gold-reserves-2019-by-country.png</image:loc><image:title>statistic_id267998_value-of-gold-reserves-2019-by-country</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/united-states-currency-dxy-2000-2019.png</image:loc><image:title>united-states-currency DXY 2000 - 2019</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/saupload_barrick-newomnt-production-cost-vs-gold-price_thumb1.png</image:loc><image:title>saupload_Barrick-Newomnt-Production-Cost-vs-Gold-Price_thumb1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/saupload_barrick-nevada-goldstrike-cortez-mines.png</image:loc><image:title>saupload_barrick-nevada-goldstrike-cortez-mines</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/central-banks-gold-holdings-bis-imf-gems-reuters.png</image:loc><image:title>Central Banks Gold Holdings - BIS, IMF GEMS, Reuters</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/06/commodity-gold-10-year.png</image:loc><image:title>commodity-gold 10 year</image:title></image:image><lastmod>2019-06-13T23:24:35+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/05/24/trade-wars-the-prospects-for-freer-trade-and-the-impact-on-asset-prices/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/us-special-prtections-against-china.png</image:loc><image:title>US special prtections against China</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/us-china-countervaling-tariffs-1980-to-2018.png</image:loc><image:title>US China countervaling tariffs 1980 to 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/tariffs-inflation.png</image:loc><image:title>tariffs-inflation</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/soybean-exports-to-china.png</image:loc><image:title>Soybean Exports to China</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/sino-us-tariffs-2017-2019.png</image:loc><image:title>Sino-US Tariffs 2017 - 2019</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/sino-us-tariff-update-since-may-1oth-2019.png</image:loc><image:title>Sino-US Tariff update since May 1oth 2019</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/ooil-and-gas-exports-to-china.png</image:loc><image:title>Ooil and Gas Exports to China</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/auto-exports-to-china.png</image:loc><image:title>Auto Exports to China</image:title></image:image><lastmod>2019-05-24T06:00:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/05/10/debasing-the-baseless-modern-monetary-theory/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/05/wraybook.jpg</image:loc><image:title>wraybook</image:title></image:image><lastmod>2019-05-10T06:03:46+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/04/18/global-real-estate-has-the-tide-begun-to-recede/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/ubs-bubbles-index.png</image:loc><image:title>ubs-bubbles-index</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/real-estate-bubbles-list-ubs.png</image:loc><image:title>real-estate-bubbles list UBS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/pricetorent-imf-oecd.png</image:loc><image:title>pricetorent IMF, OECD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/pricetoincome-imf-oecd.png</image:loc><image:title>pricetoincome IMF, OECD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/housing-bubbles-growth-rates-1yr-5yr-change-ubs.png</image:loc><image:title>housing-bubbles-growth-rates 1yr - 5yr change UBS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/housepricesaroundtheworld-imf-bis-ecbfederal-reserve-savills-sinyl-real-estate.png</image:loc><image:title>housepricesaroundtheworld IMF, BIS, ECB,Federal Reserve, Savills, Sinyl Real Estate</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/creditgrowth-imf-haver-analytics.png</image:loc><image:title>creditgrowth IMF, Haver Analytics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/04/amp-capital-australian-housing-since-1926.png</image:loc><image:title>AMP Capital - Australian housing since 1926</image:title></image:image><lastmod>2020-11-21T19:48:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/03/29/china-in-transition-from-manufacturer-to-consumer/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/03/economist-china-ca.png</image:loc><image:title>Economist China CA</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/03/china-savings-rate-ceic.png</image:loc><image:title>China Savings rate CEIC</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/03/china-demographic-wef-deloitte.png</image:loc><image:title>China DemoGraphic WEF, Deloitte</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/03/asia-demographic-wef-deloitte.png</image:loc><image:title>Asia DemoGraphic - WEF, Deloitte</image:title></image:image><lastmod>2019-03-29T09:13:24+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/03/15/capital-flows-is-a-reckoning-nigh/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/03/gli1901_graph1.jpg</image:loc><image:title>gli1901_graph1</image:title></image:image><lastmod>2019-03-15T06:56:25+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/02/15/central-bank-balance-sheet-reductions-will-anyone-follow-the-fed/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/02/http___com.ft_.imagepublish.upp-prod-eu.s3.amazonaws.png</image:loc><image:title>http___com.ft.imagepublish.upp-prod-eu.s3.amazonaws</image:title></image:image><lastmod>2019-02-15T08:28:28+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/02/01/sustainable-government-debt-an-old-idea-refreshed/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/02/image_2_20180622_tftf.jpg</image:loc><image:title>image_2_20180622_tftf</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/02/pensionshortfallinussince1998-moneyweek.png</image:loc><image:title>pensionshortfallinussince1998-moneyweek</image:title></image:image><lastmod>2019-02-01T07:05:01+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/01/18/a-world-of-debt-where-are-the-risks/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/01/imf-chart-of-debt-by-country-december-2018.png</image:loc><image:title>imf chart of debt by country december 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/01/high-yield-spread-10yr-2016-to-2019.png</image:loc><image:title>high yield spread 10yr 2016 to 2019</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/01/eng-december-26-global-debt-1.png</image:loc><image:title>eng-december-26-global-debt-1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/01/baa-10yr-spread-2007-to-2019.png</image:loc><image:title>baa 10yr spread 2007 to 2019</image:title></image:image><lastmod>2019-01-18T07:09:42+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2019/01/04/emerging-market-sensitivity-to-us-monetary-policy-what-does-the-fed-think/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2019/01/heat-map-of-reserve-to-gdp-ratio.png</image:loc><image:title>heat map of reserve to gdp ratio</image:title></image:image><lastmod>2019-01-04T07:48:37+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/12/07/a-global-slowdown-in-2019-is-it-already-in-the-price/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/12/websales-comparison.png</image:loc><image:title>Websales comparison</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/12/msci-em-2004-2018.png</image:loc><image:title>MSCI EM - 2004 - 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/12/germany-stock-market-1yr.png</image:loc><image:title>germany-stock-market 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/12/china-singles-day-sales-alibaba.png</image:loc><image:title>China Singles day sales Alibaba</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/12/china-gdp-growth-annual-1988-2018.png</image:loc><image:title>china-gdp-growth-annual 1988 - 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/12/brazil-stock-market-2013-to-2018.png</image:loc><image:title>brazil-stock-market 2013 to 2018</image:title></image:image><lastmod>2018-12-07T08:50:17+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/11/23/the-self-righting-ship-debt-inflation-and-the-credit-cycle/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/in-the-long-run-small-colour-logo.png</image:loc><image:title>In the Long Run - small colour logo</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/recovery_saltaire.png</image:loc><image:title>recovery_saltaire</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/msci-world.png</image:loc><image:title>MSCI World</image:title></image:image><lastmod>2018-11-23T10:54:46+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/11/09/how-are-chinese-stocks-responding-to-tariffs-with-the-us-and-a-slowdown-in-asian-growth/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/fredgraph-4.png</image:loc><image:title>fredgraph (4)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/china-shanghai-index-1990-2018.png</image:loc><image:title>China shanghai index 1990-2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/china-currency-2008-2018.png</image:loc><image:title>China currency 2008-2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/11/china-bonds-2006-2018.png</image:loc><image:title>China bonds 2006-2018</image:title></image:image><lastmod>2018-11-09T07:04:50+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/10/26/not-waving-but-drowning-stocks-debt-and-inflation/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/10/united-states-inflation-cpi-1970-to-2018.png</image:loc><image:title>united-states-inflation-cpi 1970 to 2018</image:title></image:image><lastmod>2018-10-26T05:55:51+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/09/28/uk-financial-services-opportunities-and-threats-post-brexit-short-term-pain-long-term-gain/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/09/usdchf-1970-to-2018.png</image:loc><image:title>USDCHF 1970 to 2018</image:title></image:image><lastmod>2018-09-28T06:42:35+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/08/31/divergent-the-breakdown-of-stock-market-correlations-temp-or-perm/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/08/msci-developed-vs-msci-em-24-8-2018-yardeni-research.png</image:loc><image:title>MSCI Developed vs MSCI EM 24-8-2018 Yardeni Research</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/08/em-real-yield-change-june-to-august-2018.png</image:loc><image:title>EM Real Yield change June to August 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/08/em-fx-and-stocks-jan-jul-and-jul-aug-2018.png</image:loc><image:title>EM FX and stocks Jan-Jul and Jul-Aug 2018</image:title></image:image><lastmod>2018-08-31T06:19:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/08/17/linear-talk-macro-roundup-for-july-2018/</loc><lastmod>2018-08-17T05:58:38+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/08/10/linear-talk-interview-with-chris-watling-of-longview-economics/</loc><lastmod>2018-08-10T05:37:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/07/28/linear-talk-macro-roundup-for-june/</loc><lastmod>2018-07-28T13:50:04+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/07/20/linear-talk-interview-with-paul-wynn/</loc><lastmod>2018-07-20T05:57:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/07/13/canary-in-the-coal-mine-emerging-market-contagion/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/07/em-markets-and-inflation.png</image:loc><image:title>EM Markets and Inflation</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/07/em-debt-and-gdp.png</image:loc><image:title>EM Debt and GDP</image:title></image:image><lastmod>2018-07-13T06:06:14+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/06/22/where-in-the-world-hunting-for-value-in-the-bond-market/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/06/real-bond-yields-1-5-and-2-pecent-curve-and-1-5-real-ir.png</image:loc><image:title>REal Bond yields 1.5 and 2 pecent curve and 1.5 real IR</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/06/real-bond-yields-1-5-and-2-percent-curve.png</image:loc><image:title>Real Bond yields 1.5 and 2 percent curve</image:title></image:image><lastmod>2018-06-22T05:34:10+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/06/15/linear-talk-macro-roundup-may-2018/</loc><lastmod>2018-06-15T06:00:53+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/06/08/italy-and-the-repricing-of-european-government-debt/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/06/ez-10yr-yield-change-may-2018.png</image:loc><image:title>EZ 10yr yield change May 2018</image:title></image:image><lastmod>2018-06-08T05:40:46+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/05/18/robots-employment-and-the-mis-measurement-of-productivity/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/percentage-change-in-employment-2001-2017-ieaons-shackleton.png</image:loc><image:title>Percentage change in employment 2001 - 2017 - IEA,ONS, Shackleton</image:title></image:image><lastmod>2018-05-18T06:17:33+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/05/11/linear-talk-macro-roundup-for-april-2018/</loc><lastmod>2018-05-11T23:45:34+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/05/04/is-the-us-exporting-a-recession/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/us-2yr-10yr-factset-mauldin.jpg</image:loc><image:title>US 2yr - 10yr Factset Mauldin</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/m2-since-1900-hoisington.png</image:loc><image:title>M2 since 1900 - Hoisington</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/evolution_of_t-bond_and_irs_spreads_-_investing_co_002.png</image:loc><image:title>Evolution_of_T-Bond_and_IRS_Spreads_-_investing_co_002</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/eu-m3-money-supply.png</image:loc><image:title>EU M3 Money Supply</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/citigroup-economic-surprises-index-eurozone.png</image:loc><image:title>Citigroup Economic Surprises Index - Eurozone</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/05/citi-economic-surprises-vs-sandp-yardeni-27-4-18.png</image:loc><image:title>Citi Economic Surprises vs SandP - Yardeni 27-4-18</image:title></image:image><lastmod>2018-05-04T10:02:33+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/04/20/inflation-or-employment/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/wheat-since-2007.png</image:loc><image:title>Wheat since 2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/us-nat-gas-since-2007.png</image:loc><image:title>US Nat Gas Since 2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/epsilon-theory-the-narrative-giveth-and-the-narrative-taketh-away-april-10-2018-chart-two.png</image:loc><image:title>epsilon-theory-the-narrative-giveth-and-the-narrative-taketh-away-april-10-2018-chart-two</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/crb-index-since-2007-core-commodity-indexes.png</image:loc><image:title>CRB Index since 2007 Core Commodity Indexes</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/epsilon-theory-the-narrative-giveth-and-the-narrative-taketh-away-april-10-2018-chart-one.png</image:loc><image:title>epsilon-theory-the-narrative-giveth-and-the-narrative-taketh-away-april-10-2018-chart-one</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/brent-oil-since-2007.png</image:loc><image:title>Brent Oil Since 2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/copper-since-2007.png</image:loc><image:title>Copper Since 2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/baltic-dry-index-quandl-since-2007.png</image:loc><image:title>Baltic Dry Index - Quandl since 2007</image:title></image:image><lastmod>2018-04-20T05:51:02+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/04/13/linear-talk-macro-roundup-for-march-2018/</loc><lastmod>2018-04-13T05:56:26+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/04/06/what-to-expect-from-central-bankers/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/zombies-bis.png</image:loc><image:title>Zombies - BIS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/productivy-stagnates-bis.png</image:loc><image:title>Productivy stagnates - BIS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/04/credit-spreads-bis.png</image:loc><image:title>Credit spreads - BIS</image:title></image:image><lastmod>2018-04-06T05:46:13+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/03/23/stocks-for-the-long-run-but-not-the-short/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/top-10-value-sandp500-obermatt.png</image:loc><image:title>TOP 10 VALUE SandP500 - Obermatt</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/stock-mkt-correlations-july-2017.png</image:loc><image:title>Stock Mkt correlations July 2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/sp-1870-to-2018.png</image:loc><image:title>S&amp;P 1870 to 2018</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/epsilon-theory-the-three-body-problem-december-21-2017-quality-index-graph.png</image:loc><image:title>epsilon-theory-the-three-body-problem-december-21-2017-quality-index-graph</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/cape-etc-star-capital-28-2-2018.png</image:loc><image:title>CAPE etc Star Capital 28-2-2018</image:title></image:image><lastmod>2018-03-23T06:58:20+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/03/16/linear-talk-macro-roundup-for-february/</loc><lastmod>2018-03-16T07:03:09+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/03/09/are-we-nearly-there-yet-employment-interest-rates-and-inflation/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/wages_and_inflation.png</image:loc><image:title>Wages_and_Inflation</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/03/labor_force_participation_rates.png</image:loc><image:title>Labor_Force_Participation_Rates</image:title></image:image><lastmod>2018-03-09T07:09:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/02/23/linear-talk-macro-roundup-review-of-january-and-2017/</loc><lastmod>2018-02-23T07:00:21+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/02/16/a-safe-place-to-hide-inflation-and-the-bond-markets/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/02/us_debt_ownership_dec_2016.png</image:loc><image:title>US_debt_ownership_Dec_2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/02/us-inflation-and-10yr-bond-yield-1950-to-1973.png</image:loc><image:title>US Inflation and 10yr bond yield 1950 to 1973</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/02/germany-vs-greece-10yr-yields.png</image:loc><image:title>Germany vs Greece 10yr yields</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/02/united-kingdom-2-year-note-yield-5yr.png</image:loc><image:title>united-kingdom-2-year-note-yield - 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/02/cb_balance_sheets_-_yardeni.png</image:loc><image:title>CB_Balance_Sheets_-_Yardeni</image:title></image:image><lastmod>2018-02-16T07:58:33+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/02/02/a-warning-knell-from-the-housing-market-inciting-a-riot/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/sydney-house-price-cycle-nov-2-2017.png</image:loc><image:title>Sydney-house-price-cycle-nov-2-2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/pricetorent.png</image:loc><image:title>pricetorent</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/pricetoincome.png</image:loc><image:title>pricetoincome</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/housepricesaroundtheworld.png</image:loc><image:title>housepricesaroundtheworld</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/globalhousepriceindex.png</image:loc><image:title>globalhousepriceindex</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/australian_cities_house_prices_31-1-2018_core_logi.png</image:loc><image:title>Australian_Cities_house_prices_31-1-2018_Core_Logi</image:title></image:image><lastmod>2018-02-02T06:33:15+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2018/01/19/the-risk-of-a-correction-in-the-equity-bull-market/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/us-gets-short-lived-dent-research.png</image:loc><image:title>US Gets Short-lived - Dent Research</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/total_labor_market_in_china_-_gavekal.png</image:loc><image:title>Total_labor_market_in_China_-_Gavekal</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/star_capital_-_equity_valuations_31-12-2017.png</image:loc><image:title>Star_Capital_-_Equity_Valuations_31-12-2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/oil_breakevens_-_geopolitical_futures.png</image:loc><image:title>Oil_Breakevens_-_Geopolitical_Futures</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/japanese_banks_in_the_wars_-_gavekal.png</image:loc><image:title>Japanese_banks_in_the_wars_-_Gavekal</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/japan-gets-millennial-surge-dent-research.png</image:loc><image:title>Japan Gets Millennial Surge - Dent Research</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/global_inflation_-_gavekal.png</image:loc><image:title>Global_Inflation_-_Gavekal</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/excess_liquidity_is_slowing_-_gavekal.png</image:loc><image:title>Excess_liquidity_is_slowing_-_Gavekal</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/chinas_decelerating_urbanisation_-_gavekal.png</image:loc><image:title>Chinas_decelerating_urbanisation_-_Gavekal</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2018/01/china_ppi_-_gavekal.png</image:loc><image:title>China_PPI_-_Gavekal</image:title></image:image><lastmod>2018-01-19T06:31:37+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/12/15/linear-talk-macro-roundup-for-november/</loc><lastmod>2017-12-15T08:01:58+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/12/08/china-leading-indicator-stocks-credit-policy-rebalancing-and-money-supply/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/12/shanghai-index-5yr.png</image:loc><image:title>Shanghai Index - 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/12/wisdomtree_ex-soe_etf_vs_msci_china_ytd.png</image:loc><image:title>Wisdomtree_ex-SOE_ETF_vs_MSCI_China_YTD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/12/china_m2_money_supply_5yr_growth_rate_ceic.png</image:loc><image:title>China_M2_Money_Supply_5yr_growth_rate_CEIC</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/12/china_government_vs_corp_aaa_yield_curve.png</image:loc><image:title>China_Government_vs_Corp_AAA_Yield_Curve</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/12/china_government_vs_aaa_corp_spread.png</image:loc><image:title>China_Government_vs_AAA_Corp_Spread</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/12/china-10yr-vs-3-m-interbank-10yr.png</image:loc><image:title>china 10yr vs 3 m interbank - 10yr</image:title></image:image><lastmod>2017-12-08T06:28:30+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/11/24/bull-market-breather-or-beginning-of-the-end/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/spread_spreads_april_vs_nov_2016.png</image:loc><image:title>Spread_spreads_April_vs_Nov_2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/moodys-aaa-and-baa-corps-spread-over-10yr-bond.png</image:loc><image:title>Moodys Aaa and Baa Corps spread over 10yr Bond</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/moody-aaa-and-baa-plus-ml-hy-since-jan-2016.png</image:loc><image:title>Moody Aaa and Baa plus ML HY since Jan 2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/2yr-10yr-treasury-jan-2016-to-present.png</image:loc><image:title>2yr - 10yr Treasury Jan 2016 to present</image:title></image:image><lastmod>2017-11-24T05:59:34+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/11/17/linear-talk-macro-roundup-for-october/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/shanghai_composite_vs_wisdomtree_china_ex.png</image:loc><image:title>Shanghai_Composite_vs_Wisdomtree_China_ex</image:title></image:image><lastmod>2017-11-17T08:16:27+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/11/10/linear-talk-interview-with-gabriel-stein-of-stein-brothers-the-impact-of-qt/</loc><lastmod>2017-11-10T07:31:20+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/11/03/global-real-estate-and-the-end-of-qe-is-it-time-to-be-afraid/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/real-estate-p-e-and-p-r-chart-oecd.png</image:loc><image:title>Real Estate P-E and P-R chart OECD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/oecd-real-estate-charts-2010-2014.png</image:loc><image:title>OECD Real Estate charts 2010 -2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/sandp_shiller_case_house_price_index_-_2006-2017_q.png</image:loc><image:title>SandP_Shiller_Case_House_Price_Index_-_2006-2017_Q</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/real_estate_real_return_q2_2017_knight_frank.png</image:loc><image:title>Real_Estate_Real_Return_Q2_2017_Knight_Frank</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/real_estate_price_change_-_knight_frank.png</image:loc><image:title>Real_Estate_Price_Change_-_Knight_Frank</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/imf_household_debt_to_gdp_ratios_-_emerging_econom.png</image:loc><image:title>IMF_Household_Debt_to_GDP_ratios_-_Emerging_Econom</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/imf_household_debt_to_gdp_ratios_-_advanced_econom.png</image:loc><image:title>IMF_Household_Debt_to_GDP_ratios_-_Advanced_Econom</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/iif-china-debt-to-gdp.png</image:loc><image:title>iif china debt to GDP</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/housepricesaroundtheworld_lg.png</image:loc><image:title>housepricesaroundtheworld_lg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/11/globalhousepriceindex_lg.png</image:loc><image:title>globalhousepriceindex_lg</image:title></image:image><lastmod>2017-11-03T08:52:25+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/10/20/linear-talk-macro-roundup-for-september-2017/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/10/linear_talk-logo.png</image:loc><image:title>linear_talk logo</image:title></image:image><lastmod>2017-10-20T07:17:49+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/10/13/european-bonds-warning-knell-or-cause-for-celebration/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/10/euro_bond_spreads_2009_versus_2017.png</image:loc><image:title>Euro_Bond_spreads_2009_versus_2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/10/greece-vs-germany-10yr-yield-2017.png</image:loc><image:title>Greece vs Germany 10yr yield 2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/10/ez-survey-july-2017.png</image:loc><image:title>EZ survey July 2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/10/european-unemployment-bnp-paribas.png</image:loc><image:title>European Unemployment - BNP Paribas</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/10/bond_yields_jan_vs_october_2017-1.png</image:loc><image:title>Bond_yields_Jan_vs_October_2017 (1)</image:title></image:image><lastmod>2017-10-13T06:14:19+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/09/29/japan-politics-central-banking-and-the-nikkei-225/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/usdjpy-10yr-monthly-tradingeconomics.png</image:loc><image:title>USDJPY 10yr - monthly - Tradingeconomics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/nikkei_225_-_top_10_-_obermatt_-_28-4-2017.png</image:loc><image:title>Nikkei_225_-_Top_10_-_Obermatt_-_28-4-2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/japan-housing-price-index-and-cpi-10yr-trading-economics.png</image:loc><image:title>Japan Housing Price Index and CPI 10yr Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/nikkei-225-10yr-monthly-tradingeconomics.png</image:loc><image:title>Nikkei 225 - 10yr monthly - Tradingeconomics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/0yr-jgb-10yr-monthly-tradingeconomics.png</image:loc><image:title>!0yr JGB - 10yr monthly - Tradingeconomics</image:title></image:image><lastmod>2017-09-29T06:15:45+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/09/22/linear-talk-macro-roundup-for-august/</loc><lastmod>2017-09-22T09:27:09+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/09/15/is-chinese-growth-about-to-falter/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/kcfr_factor_model.png</image:loc><image:title>KCFR_Factor_model</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/kcfr_factor_1_breakdown.png</image:loc><image:title>KCFR_Factor_1_breakdown</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/kcfr_-_factor_weights.png</image:loc><image:title>KCFR_-_Factor_weights</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/ice_south_china_coal_-_5yr.png</image:loc><image:title>ICE_South_China_Coal_-_5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/china_real-estate_and_m1_-_cantillon_-_august_2017.png</image:loc><image:title>China_Real-Estate_and_M1_-_Cantillon_-_August_2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/china_money_supply_-_cantillon_august_2017.png</image:loc><image:title>China_Money_Supply_-_Cantillon_August_2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/china-house-prices-2nd-and-3rd-tier-cities-bloomberg.png</image:loc><image:title>China house prices - 2nd and 3rd tier cities - Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/09/china-growth-indicators-bloomberg.png</image:loc><image:title>China growth indicators - Bloomberg</image:title></image:image><lastmod>2017-09-15T06:15:42+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/09/08/linear-talk-macro-roundup-for-july/</loc><lastmod>2017-09-08T12:12:42+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/09/01/does-the-rising-price-of-industrial-metals-herald-the-beginning-of-the-next-commodity-super-cycle/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/08/industrial_metals_table_-_1yr_-_source_trading_eco.png</image:loc><image:title>Industrial_Metals_Table_-_1yr_-_source_Trading_Eco</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/08/world-gdp-growth-annual-percent-wb-data-1999-2015.png</image:loc><image:title>world-gdp-growth-annual-percent-wb-data - 1999-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/08/china_and_commodities_-_sandp_dow_jones.png</image:loc><image:title>China_and_Commodities_-_SandP_Dow_Jones</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/08/economist_commodity_index_-_inflation_adjusted_185.png</image:loc><image:title>Economist_Commodity_Index_-_Inflation_adjusted_185</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/08/bloomberg_commodity_index_-_jan_1999_-_aug_2017.png</image:loc><image:title>Bloomberg_Commodity_Index_-_Jan_1999_-_Aug_2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/08/bloomber-indices-1yr-aug-2017.png</image:loc><image:title>Bloomber Indices 1yr Aug 2017</image:title></image:image><lastmod>2017-09-01T05:50:51+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/07/27/linear-talktiptv-macro-round-up-for-june/</loc><lastmod>2017-07-27T08:00:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/07/20/has-bitcoin-come-of-age/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/07/deribit_-_bitcoin_options_prices_-_17-7-2017_-_spo-1.png</image:loc><image:title>Deribit_-_Bitcoin_Options_prices_-_17-7-2017_-_Spo (1)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/07/cryptocurrency_market_cap_-_coinmarketcap_com.png</image:loc><image:title>Cryptocurrency_Market_Cap_-_Coinmarketcap_com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/07/bitcoin_options_vol_smile_-_deribit.png</image:loc><image:title>Bitcoin_Options_Vol_Smile_-_Deribit</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/07/bitcoin_interest_rates_-_july_2017.png</image:loc><image:title>Bitcoin_Interest_Rates_-_July_2017</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/07/bitcoin_chart_since_march_2017_-_bitcoincharts_com.png</image:loc><image:title>Bitcoin_chart_since_March_2017_-_Bitcoincharts_com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/07/bitcion_price_and_vol_3month_-_deribit.png</image:loc><image:title>Bitcion_price_and_vol_3month_-_Deribit</image:title></image:image><lastmod>2017-07-25T06:27:10+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/06/30/the-gritty-potential-of-fire-ice-saviour-or-scourge/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/06/bp-statsreview.png</image:loc><image:title>bp-statsreview</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/06/methane_hydrate_deposits_-_usgs_-_2011.png</image:loc><image:title>Methane_Hydrate_deposits_-_USGS_-_2011</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/06/methane-hydrate-diagram-eia.png</image:loc><image:title>Methane Hydrate diagram - EIA</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/06/lng_prices_-_may_17_ferc.png</image:loc><image:title>LNG_prices_-_May_17_FERC</image:title></image:image><lastmod>2017-07-19T08:08:38+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/06/23/linear-talktiptv-macro-roundup-for-may/</loc><lastmod>2017-06-23T12:18:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2017/06/16/central-bank-balance-sheet-adjustment-a-path-to-enlightenment/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/06/uk-equities-1700-2012-stockmarket-almanac.png</image:loc><image:title>UK-equities-1700-2012 Stockmarket 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ECB</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/03/greece_-_repayment_schedule_-_wsj.png</image:loc><image:title>Greece_-_Repayment_Schedule_-_WSJ</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/03/greece-government-debt.png</image:loc><image:title>greece-government-debt</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/03/euro_effective_exchange_rate_-_ecb-1.png</image:loc><image:title>Euro_Effective_Exchange_Rate_-_ECB (1)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/03/ecfr206_the_future_shape_of_europe_-_countrymap.png</image:loc><image:title>ECFR206_THE_FUTURE_SHAPE_OF_EUROPE_-_CountryMap</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2017/03/ecfr-futureeu_motiviationflexibility.png</image:loc><image:title>ECFR 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since 1953</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/07/astrolabe.png</image:loc><image:title>Astrolabe</image:title></image:image><lastmod>2016-07-15T06:20:29+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/07/08/china-rebalancing-debt-and-the-stock-market/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/07/china-stock-market-10-yr.png</image:loc><image:title>china-stock-market 10 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/07/china-government-bond-yield-1-yr.png</image:loc><image:title>china-government-bond-yield 1 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/07/china-currency-12-yr.png</image:loc><image:title>china-currency 12 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yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/07/bn-ne269_cmargi_g_20160321002958.png</image:loc><image:title>BN-NE269_CMARGI_G_20160321002958</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/07/1dfa0969d85ed690f4e4b05858404992.png</image:loc><image:title>1DFA0969D85ED690F4E4B05858404992</image:title></image:image><lastmod>2016-07-08T12:30:14+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/06/24/will-japan-be-the-first-to-test-the-limits-of-quantitative-easing/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/topix-share-buy-backs.png</image:loc><image:title>Topix Share buy backs</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/monetary-velocity-clsa.png</image:loc><image:title>Monetary Velocity - CLSA</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/japan-tankan-capex-index-q1-2016.png</image:loc><image:title>japan-tankan-capex-index-q1-2016</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/japan-stock-market-5yr.png</image:loc><image:title>japan-stock-market 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/japan-currency-5yr.png</image:loc><image:title>japan-currency 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/japan-government-bond-yield-5yr.png</image:loc><image:title>japan-government-bond-yield 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/bloomberg-japan-money-mult-and-money-base.png</image:loc><image:title>Bloomberg - Japan Money Mult and Money base</image:title></image:image><lastmod>2016-06-24T06:48:08+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/06/17/what-to-do-if-the-brexit-hits-the-fan-prepare-to-invest/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/ftse-spx-dax-6months.png</image:loc><image:title>FTSE SPX DAX 6months</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/gbpusd-6-months.png</image:loc><image:title>GBPUSD 6 months</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/eurgbp-monthly-since-2007.png</image:loc><image:title>EURGBP Monthly since 2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/06/eurgbp-1-yr.png</image:loc><image:title>EURGBP 1 yr</image:title></image:image><lastmod>2016-06-17T06:19:38+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/06/10/here-comes-summer-did-you-sell-in-may/</loc><lastmod>2016-06-10T07:51:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/05/20/the-levee-gonna-break-debt-demographics-productivity-and-financialization/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/05/world-debt-growth.png</image:loc><image:title>World Debt growth</image:title></image:image><lastmod>2016-05-20T06:16:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/05/06/brexit-grexit-and-the-rise-and-fall-and-rise-again-of-the-euro/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/05/real_effective_exchange_rate_reer_monthly_index_base_year_100.png</image:loc><image:title>real_effective_exchange_rate_reer_monthly_index_base_year_100</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/05/eurgbp-10-yr.png</image:loc><image:title>EURGBP 10 yr</image:title></image:image><lastmod>2016-05-06T06:12:25+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/04/22/us-growth-has-the-windfall-of-cheap-oil-arrived-or-is-there-a-spectre-at-the-feast/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/04/us-house-prices-_federal_housing_finance_agency.png</image:loc><image:title>US-house-prices-_Federal_Housing_Finance_Agency</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/04/us-capex-by-sector.png</image:loc><image:title>US CAPEX by sector</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/04/total-consumer-credit-outstanding.png</image:loc><image:title>total-consumer-credit-outstanding</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/04/saupload_4-whole-economy-profits.png</image:loc><image:title>saupload_4-whole-economy-profits</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/04/corporate-profits-peak.png</image:loc><image:title>corporate-profits-peak</image:title></image:image><lastmod>2016-04-22T06:57:24+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/04/08/quantitative-to-qualitative-is-unelected-nationalisation-next/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/04/boj-etf-holdings-october-2015-bloomberg.png</image:loc><image:title>BoJ ETF holdings - October 2015 - Bloomberg</image:title></image:image><lastmod>2016-04-08T06:34:15+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/02/26/will-nigeria-be-forced-to-devalue-the-naira/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/02/naira-spot-vs-forwards.png</image:loc><image:title>Naira spot vs forwards</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/02/nigeria-inflation-cpi.png</image:loc><image:title>nigeria-inflation-cpi</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/02/nigeria-government-bond-yield.png</image:loc><image:title>nigeria-government-bond-yield</image:title></image:image><lastmod>2016-02-26T07:19:10+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/02/12/why-did-japanese-nirp-cause-such-surprise-in-the-currency-market-and-is-it-more-dangerous/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/02/japan-government-bond-yield-2008-2016-monthly.png</image:loc><image:title>japan-government-bond-yield 2008-2016 Monthly</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/02/nikkei-225-vs-eurostoxx-50-5yr.png</image:loc><image:title>Nikkei 225 vs Eurostoxx 50 - 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/02/usdjpy_-_3yr.png</image:loc><image:title>USDJPY_-_3yr</image:title></image:image><lastmod>2016-02-12T06:37:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2016/01/29/central-banks-ah-aaaaahhh-saviours-of-the-universe/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/flash-gordon-flash-gordon-23432257-1014-1600.png</image:loc><image:title>Flash-Gordon-flash-gordon-23432257-1014-1600</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/power_is_leading_the_transformation.png</image:loc><image:title>Power_is_leading_the_transformation</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/india_moving_to_centre.png</image:loc><image:title>India_moving_to_centre</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/demand_growth_in_asia.png</image:loc><image:title>Demand_Growth_in_Asia</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/a_new_balancing_item_in_the_oil_market.png</image:loc><image:title>A_new_balancing_item_in_the_oil_market</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/a_new_chapter_in_chinas_growth_story.png</image:loc><image:title>A_new_chapter_in_Chinas_growth_story</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/bdi_-_1985_-_2016-4.png</image:loc><image:title>BDI_-_1985_-_2016 (4)</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/inr-vs-rmb-yahoo.png</image:loc><image:title>INR vs RMB - Yahoo</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/us-high-yield-thompson-reuters.png</image:loc><image:title>US-High Yield - Thompson Reuters</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2016/01/us_index_-_5_yr_marketwatch.png</image:loc><image:title>US_Index_-_5_yr_Marketwatch</image:title></image:image><lastmod>2016-01-29T05:48:51+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/12/11/is-the-ascension-of-the-rmb-to-the-sdr-basket-more-than-merely-symbolic/</loc><lastmod>2015-12-11T07:16:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/12/04/what-are-the-prospects-for-uk-financial-markets-in-2016/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/sterling-effective-exchange-rate-1yr.png</image:loc><image:title>Sterling Effective Exchange Rate 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/sterling-effective-exchange-rate-1-yr.png</image:loc><image:title>Sterling Effective Exchange Rate - 1 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/giltbund-julnov.png</image:loc><image:title>GiltBund JulNov</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/ftse250-vs-eurstox-and-sp-5yr.png</image:loc><image:title>FTSE250 vs EurStox and S&amp;P - 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/ftse100-vs-250-6m.png</image:loc><image:title>FTSE100 vs 250 - 6m</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/ftse100-vs-250-5-yr.png</image:loc><image:title>FTSE100 vs 250 - 5 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/12/ftse-vs-stox-vs-spx-6month.png</image:loc><image:title>FTSE vs STOX vs SPX 6month</image:title></image:image><lastmod>2015-12-04T07:23:55+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/11/20/should-we-buy-turkey-for-thanksgiving/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkish-debt.png</image:loc><image:title>Turkish Debt</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-stock-market.png</image:loc><image:title>turkey-stock-market</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-interest-rate.png</image:loc><image:title>turkey-interest-rate</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-imports.png</image:loc><image:title>turkey-imports</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-government-budget.png</image:loc><image:title>turkey-government-budget</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-government-bond-yield.png</image:loc><image:title>turkey-government-bond-yield</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-government-bond-yield-5yr.png</image:loc><image:title>turkey-government-bond-yield 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-gdp-growth-annual.png</image:loc><image:title>turkey-gdp-growth-annual</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-foreign-exchange-reserves.png</image:loc><image:title>turkey-foreign-exchange-reserves</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/turkey-external-debt.png</image:loc><image:title>turkey-external-debt</image:title></image:image><lastmod>2015-11-20T08:23:02+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/11/06/have-technological-advances-offset-the-reduction-in-capital-allocated-to-financial-markets-trading/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/t-bonds-at-the-fed-st-louis-fed.png</image:loc><image:title>T-Bonds at the Fed - St Louis Fed</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/nysevolume.png</image:loc><image:title>NYSEvolume</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/11/high-frequency-equity-market-making-returns-and-vix.png</image:loc><image:title>High-Frequency Equity Market-Making Returns and VIX</image:title></image:image><lastmod>2015-11-06T07:06:24+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/10/23/whats-right-with-the-trans-pacific-partnership/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/richard_cobden.png</image:loc><image:title>Richard_Cobden</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/20150725_fnc164.png</image:loc><image:title>20150725_FNC164</image:title></image:image><lastmod>2015-10-23T06:37:04+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/10/09/brazil-good-buy-or-goodbye/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/gsci-10-yr.png</image:loc><image:title>GSCI 10 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/em-stocks-in-usd-2015.png</image:loc><image:title>EM Stocks in USD - 2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/em-debt-and-tax-balance-imf.png</image:loc><image:title>EM debt and tax balance - IMF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/em-bonds-usd-exposures-bloomberg.png</image:loc><image:title>EM Bonds - USD Exposures - Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/brazil-stock-market-10-yr-trading-economics.png</image:loc><image:title>brazil-stock-market 10 yr - Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/brazil-government-bond-yield-10yr-trading-economics.png</image:loc><image:title>brazil-government-bond-yield 10yr - Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/brazil-currency-10yr-trading-economics.png</image:loc><image:title>brazil-currency 10yr - Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/10/brazil-budget-balance-inflation-and-policy-rate-economist.png</image:loc><image:title>Brazil Budget Balance Inflation and Policy Rate - Economist</image:title></image:image><lastmod>2015-10-09T05:18:08+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/09/25/will-europe-benefit-economically-from-the-migrant-crisis/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/william_hogarth_-_noon_-_1738.png</image:loc><image:title>William_Hogarth_-_Noon_-_1738</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/immigrants-to-eu-2013.png</image:loc><image:title>Immigrants to EU 2013</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/hugenot-diaspora.png</image:loc><image:title>Hugenot diaspora</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/eu-asylum-acceptance-rates.png</image:loc><image:title>EU-Asylum acceptance rates</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/displaced-refugees-mercury-corp.png</image:loc><image:title>Displaced Refugees Mercury Corp</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/courseramapoct2013.png</image:loc><image:title>courseramapoct2013</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/asian-women-labour-market-activity-rate-uk.png</image:loc><image:title>Asian Women labour market activity rate UK</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/800px-number_of_non-eu_asylum_applicants_in_the_eu_and_efta_member_states_by_age_distribution_2014_c2b9_yb15_iii.png</image:loc><image:title>800px-Number_of_(non-EU)_asylum_applicants_in_the_EU_and_EFTA_Member_States,_by_age_distribution,_2014_(¹)_YB15_III</image:title></image:image><lastmod>2015-09-25T16:51:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/09/10/what-are-the-bond-markets-telling-us-about-inflation-recession-and-the-path-of-central-bank-policy/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/fred-usd-twi-2008-2015.png</image:loc><image:title>FRED USD TWI 2008-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/fred-breakeven-inflation-rate-2007-2015.png</image:loc><image:title>FRED Breakeven Inflation rate 2007-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/fred-baa-corporate-bond-yield-2013-2015.png</image:loc><image:title>FRED Baa Corporate bond yield 2013-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/fathom_consulting_china_momentum_indicator.png</image:loc><image:title>Fathom_Consulting_China_Momentum_Indicator</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/09/cad-and-mxn-vs-usd-2yr.png</image:loc><image:title>CAD and MXN vs USD 2yr</image:title></image:image><lastmod>2015-09-11T06:10:24+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/08/28/an-autumn-reassessment-will-the-fallout-from-china-favour-equities-bonds-or-the-us-dollar/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/us-dollar-index.png</image:loc><image:title>US Dollar Index</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/spain-unemployment-youth-unemployment-rate.png</image:loc><image:title>spain-unemployment- youth unemployment rate</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/sp500-10yr.png</image:loc><image:title>S&amp;P500 10yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/nikkei-jgb-2008-2015.png</image:loc><image:title>Nikkei - JGB 2008-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/mexico_vs_china_-_wages_merrill_lynch.png</image:loc><image:title>Mexico_vs_China_-_wages_Merrill_Lynch</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/greece-german-youth-unemployment-rate.png</image:loc><image:title>greece-german youth-unemployment-rate</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/greece-german-unemployment-rate.png</image:loc><image:title>greece-german unemployment-rate</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/eurostoxx-bunds-2008-2015.png</image:loc><image:title>Eurostoxx - Bunds - 2008-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/08/dow-t-bond-2008-2015.png</image:loc><image:title>Dow - T-Bond 2008-2015</image:title></image:image><lastmod>2015-08-28T05:30:23+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/07/03/which-way-now-ftse-gilts-sterling-and-the-eu-referendum/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/united-kingdom-german-stock-market-1990-2015.png</image:loc><image:title>united-kingdom-German stock-market 1990-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/united-kingdom-france-stock-market.png</image:loc><image:title>united-kingdom-france stock-market</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/united-kingdom-and-german-government-bond-yield-1990-1992.png</image:loc><image:title>united-kingdom-and german government-bond-yield 1990 - 1992</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/uk_tfp_vs_g7.png</image:loc><image:title>UK_TFP_vs_G7</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/uk_gdp_by_sector_ecr_ons.png</image:loc><image:title>UK_GDP_by_sector_ECR_ONS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/uk_effective_exchange_rate_and_manufacturing.png</image:loc><image:title>UK_Effective_Exchange_Rate_and_Manufacturing</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/germany-uk-government-bond-yield-1990-2015.png</image:loc><image:title>germany-UK-government-bond-yield 1990 - 2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/germany-uk-government-budget-1996-2015.png</image:loc><image:title>germany-UK government-budget 1996-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/07/gbp_vs_usd_and_eur_-_scottish_vote_2014.png</image:loc><image:title>GBP_vs_USD_and_EUR_-_Scottish_Vote_2014</image:title></image:image><lastmod>2015-07-03T06:14:14+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/06/19/us-growth-and-employment-can-the-boon-of-cheap-energy-eclipse-the-collapse-of-energy-investment/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/06/us-10-yr-bond-yield-global-financial-data.png</image:loc><image:title>US 10 yr Bond Yield Global Financial Data</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/06/sp500-1yr.png</image:loc><image:title>S&amp;P500 - 1yr</image:title></image:image><lastmod>2015-06-19T05:51:32+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/06/05/nigeria-and-south-africa-what-are-their-prospects-for-growth-and-investment/</loc><lastmod>2015-06-07T19:33:37+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/05/22/rising-yields-and-rising-correlation-in-major-bond-markets-end-of-cycle-or-correction/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/japan-government-bond-yield-2001-20071.png</image:loc><image:title>japan-government-bond-yield 2001-2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/sandp-vs-barclays-bond-index-25-yr-iii-cap-man.png</image:loc><image:title>SandP vs Barclays Bond index 25 yr -III Cap Man</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/ny-fed-pce-gdp-forecasts.png</image:loc><image:title>NY Fed PCE GDP forecasts</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/ny-fed-output-gap.png</image:loc><image:title>NY Fed Output Gap</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/japan-stock-market-2001-2007.png</image:loc><image:title>japan-stock-market 2001-2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/japan-interest-rate.png</image:loc><image:title>japan-interest-rate</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/japan-inflation-cpi.png</image:loc><image:title>japan-inflation-cpi</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/japan-government-bond-yield.png</image:loc><image:title>japan-government-bond-yield</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/japan-currency-2001-2007.png</image:loc><image:title>japan-currency 2001-2007</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/barclay-bond-index-vs-sandp-iii-capital-management.png</image:loc><image:title>Barclay bond index vs SandP - III Capital Management</image:title></image:image><lastmod>2015-05-22T06:14:01+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/05/07/broken-brics-can-brazil-and-russia-rebound/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/usdrub-1yr.png</image:loc><image:title>USDRUB 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/usdbrl-1yr.png</image:loc><image:title>USDBRL 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/russia-house-prices-2.png</image:loc><image:title>russia-house-prices-2</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/russia-government-bond-yield.png</image:loc><image:title>russia-government-bond-yield</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/micex-vs-bovespa-1yr.png</image:loc><image:title>MICEX vs BOVESPA 1yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/gsci-and-crb-1-yr.png</image:loc><image:title>GSCI and CRB 1 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/brazil-house-prices-1.png</image:loc><image:title>brazil-house-prices-1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/05/brazil-government-bond-yield.png</image:loc><image:title>brazil-government-bond-yield</image:title></image:image><lastmod>2015-05-08T07:34:24+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/04/24/greece-in-or-out-investment-opportunities/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/net-migration-from-greece.png</image:loc><image:title>Net migration from Greece</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/imf-greek-loan-repayments-2015.png</image:loc><image:title>IMF Greek loan repayments 2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/greek_house_prices_1999_-2015.png</image:loc><image:title>Greek_House_Prices_1999_-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/greek_house_price_index_-_1999-2015.png</image:loc><image:title>Greek_House_Price_index_-_1999-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/greek-t-bill-and-bond-redemptions-2015.png</image:loc><image:title>Greek T-Bill and Bond redemptions 2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/greece-government-bond-yield.png</image:loc><image:title>greece-government-bond-yield</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/greece_peripheries_gdp_per_capita_svg-2008-eurostat.png</image:loc><image:title>Greece_peripheries_GDP_per_capita_svg 2008 Eurostat</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/ftseathex-banks-index-6-months.png</image:loc><image:title>FTSEAthex Banks index 6 months</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/ez-bank-deposits-gs.png</image:loc><image:title>EZ Bank deposits GS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/debt-since-2018-mckinsey-haver-analytics.png</image:loc><image:title>Debt since 2018 - McKinsey Haver Analytics</image:title></image:image><lastmod>2015-04-24T06:19:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/04/09/technology-indices-and-creative-destruction-when-might-the-bubble-burst/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/vc-in-us-economist.png</image:loc><image:title>VC in US - Economist</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/tech-stocks-6-months.png</image:loc><image:title>Tech stocks 6 months</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/tech-spend-economist.png</image:loc><image:title>Tech spend - Economist</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/stox-tech-euro-600-nasdaq-ixn-global-tech-etf.png</image:loc><image:title>Stox Tech Euro 600 Nasdaq IXN Global Tech ETF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/quality-of-scientists-oecd.png</image:loc><image:title>Quality of Scientists - OECD</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/global-debt-to-gdp.png</image:loc><image:title>Global Debt to GDP</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/dot-com-bubble.png</image:loc><image:title>dot-com-bubble</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/04/americas-advance-industries-brookings.png</image:loc><image:title>Americas Advance Industries - Brookings</image:title></image:image><lastmod>2015-04-10T06:19:29+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/03/20/german-resurgence-which-asset-stocks-bunds-or-real-estate/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/germany-imports-2008-2015.png</image:loc><image:title>germany-imports 2008-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/germany-exports-2008-2015.png</image:loc><image:title>germany-exports 2008-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/euro_effective_excahnge_rate_-_ecb_1993_-_2015.png</image:loc><image:title>Euro_Effective_Excahnge_Rate_-_ECB_1993_-_2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/dax-vs-mdax-2000-2015.png</image:loc><image:title>DAX vs MDAX 2000-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/dax-jan-1998-march-2015-monthly.png</image:loc><image:title>DAX Jan 1998 - March 2015 Monthly</image:title></image:image><lastmod>2015-03-20T09:14:06+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/03/06/china-versus-india-currencies-reform-and-growth/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/usdinr-5-yr.png</image:loc><image:title>USDINR 5 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/usdcnh-oct-2012-march-2015.png</image:loc><image:title>USDCNH Oct 2012-March 2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/unsold-indian-property-frank-knight.png</image:loc><image:title>Unsold Indian Property - Frank Knight</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/shanghai_composite_1_yr.png</image:loc><image:title>Shanghai_Composite_1_yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/nhb-price-data.png</image:loc><image:title>NHB - Price Data</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/india_money_supply.png</image:loc><image:title>India_Money_supply</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/cny-inr-2-yr.png</image:loc><image:title>CNY-INR-2 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/china-stock-market-8yr.png</image:loc><image:title>china-stock-market 8yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/china-housing-index.png</image:loc><image:title>china-housing-index</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/03/china-m2-cato.png</image:loc><image:title>China M2 - Cato</image:title></image:image><lastmod>2015-03-09T10:46:25+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/02/20/australia-and-canada-commodities-and-growth/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/iron-ore-fines-6-yr.png</image:loc><image:title>Iron Ore Fines 6 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/house-pricetoincome-imf.png</image:loc><image:title>House pricetoincome IMF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/chart-5-energy-commodity-prices10.png</image:loc><image:title>Chart-5-Energy-Commodity-Prices10</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/chart-4-global-natural-gas-prices11.png</image:loc><image:title>Chart-4-Global-Natural-Gas-Prices11</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/canada-currency.png</image:loc><image:title>canada-currency</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/canada-natl_charta04_hi-res_en.png</image:loc><image:title>Canada natl_chartA04_hi-res_en</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/canada-australian-stock-market-2000-2015.png</image:loc><image:title>canada australian -stock-market 2000-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/cad-ceri-1yr-to-sept-2014.png</image:loc><image:title>CAD CERI - 1yr to sept 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/australian-house-prices-2006-2014.png</image:loc><image:title>Australian House Prices 2006 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/australian-coal-price-macro-business-2012-2014.png</image:loc><image:title>Australian Coal Price - Macro Business 2012 - 2014</image:title></image:image><lastmod>2015-02-20T10:14:14+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/02/13/where-is-the-oil-price-heading-in-2015/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/us_vs_world_oil_production.png</image:loc><image:title>US_vs_world_Oil_production</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/brent-wti-spread-goldman-sachs-zerohedge.png</image:loc><image:title>brent wti spread Goldman Sachs ZeroHedge</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/10yr-oil.png</image:loc><image:title>10yr Oil</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/4month-mar15-wti.png</image:loc><image:title>4month Mar15 WTI</image:title></image:image><lastmod>2015-02-13T08:20:59+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/02/06/swiss-national-bank-policy-and-its-implications-for-currencies-assets-and-central-banking/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/switzerland-balance-of-trade.png</image:loc><image:title>switzerland-balance-of-trade</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/swiss-m3-and-lending-2014-ireland.png</image:loc><image:title>Swiss-M3-and-Lending-2014-Ireland</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/swiss-imports-exports-by-type.png</image:loc><image:title>Swiss-Imports-Exports-by-Type</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/swiss_tradebalancebycountry.png</image:loc><image:title>Swiss_TradeBalanceByCountry</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/swiss_exportsbycountry.png</image:loc><image:title>Swiss_ExportsByCountry</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/real_effective_chf_exchange_rate_eurchf18_01_2013.png</image:loc><image:title>Real_Effective_CHF_Exchange_rate_EURCHF18_01_2013-</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/eurchf_10_yr.png</image:loc><image:title>EURCHF_10_yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/02/central-bank-balance-of-percentage-gdp-source-snb.png</image:loc><image:title>Central Bank Balance-of-percentage-GDP - source SNB</image:title></image:image><lastmod>2015-02-06T07:40:46+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/01/23/the-prospects-for-the-uk-in-2015-stocks-gilts-and-sterling/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/united-kingdom-government-bond-yield-2007-2015.png</image:loc><image:title>united-kingdom-government-bond-yield 2007-2015</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/united-kingdom-gdp-growth-annual-2007-2014.png</image:loc><image:title>united-kingdom-gdp-growth-annual 2007-2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/uk_public_sector_finances_-_erc.png</image:loc><image:title>UK_Public_Sector_Finances_-_ERC</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/uk_inflation_-_ons.png</image:loc><image:title>UK_Inflation_-_ONS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/uk_company_profitability_-_erc.png</image:loc><image:title>UK_Company_profitability_-_ERC</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/spx-vs-ftse-5yr.png</image:loc><image:title>SPX vs FTSE 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/pf-ftse-cape_3079144a.png</image:loc><image:title>PF-ftse-cape_3079144a</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/icm_poll_parties_200115.png</image:loc><image:title>ICM_Poll_Parties_200115</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/ftse-eurostoxx-dax-5yr.png</image:loc><image:title>FTSE EUROSTOXX DAX 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/eurgbp-month-jan-2007-jan-2015.png</image:loc><image:title>EURGBP Month Jan 2007 - Jan 2015</image:title></image:image><lastmod>2015-01-23T07:36:02+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2015/01/09/greece-germany-and-the-ecb-and-what-it-means-for-bonds-stocks-and-the-euro/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/ecb-balance-sheet-bloomberg.png</image:loc><image:title>ECB Balance Sheet - Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2015/01/athens_vs_dax_one_year-bloomberg.png</image:loc><image:title>Athens_vs_DAX_one_year bloomberg</image:title></image:image><lastmod>2015-01-09T08:18:12+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/12/19/how-the-collapse-in-energy-prices-will-affect-us-growth-and-inflation-and-what-that-means-for-stocks/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/us_pricing_power_and_oil_-_ihs_global_insight_wsj.png</image:loc><image:title>US_Pricing_Power_and_Oil_-_IHS_Global_Insight_WSJ</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/us-gdp-by-state-2013.png</image:loc><image:title>US GDP by State 2013</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/pce-inflation-projection-frbsf.png</image:loc><image:title>PCE Inflation projection - FRBSF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/jobs-in-shale-ve-non-shale-zero-hedge-bls.png</image:loc><image:title>Jobs in shale ve non-shale - Zero Hedge BLS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/energy_high_yield_-_zero_hedge.png</image:loc><image:title>Energy_High_Yield_-_zero_hedge</image:title></image:image><lastmod>2014-12-19T09:01:59+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/12/05/will-the-nikkei-breakout-or-fail-and-follow-the-yen-lower/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/usdjpy1971-2010-federal-reserve.png</image:loc><image:title>usdjpy1971 - 2010 Federal Reserve</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/total-cb-assets-vs-gdp-fulcrum.png</image:loc><image:title>Total CB assets vs GDP - Fulcrum</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/real_effective_exchange_rates_-_1980_-_2012_bis_-_.png</image:loc><image:title>Real_Effective_exchange_rates_-_1980_-_2012_BIS_-_</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/nikkei-225-1970-2009-the-big-picture-the-chart-store.png</image:loc><image:title>nikkei-225 - 1970 - 2009 - The Big Picture - The Chart Store</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/nikkei-225-price-to-book-10-yr.png</image:loc><image:title>Nikkei 225 Price to Book 10 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/nikkei-225-pe-source-tse.png</image:loc><image:title>Nikkei 225 - PE - Source TSE</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/nikkei-225-10yr-source-nikkei.png</image:loc><image:title>Nikkei 225 - 10yr - source Nikkei</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/jpy-real-effective-exchange-rate-1970-2014-bis.png</image:loc><image:title>JPY Real Effective Exchange Rate 1970- 2014 BIS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/japanese_assets_vs_liabilities_-_imf_-_boj.png</image:loc><image:title>Japanese_assets_vs_liabilities_-_IMF_-_BoJ</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/12/japanese-home-prices-1980-2008-market-oracle.png</image:loc><image:title>Japanese Home Prices - 1980 - 2008 Market Oracle</image:title></image:image><lastmod>2014-12-05T07:42:21+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/08/29/the-second-arrow-of-likonomics-and-the-chinese-property-market/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/shanghai-se-composite-vs-sp500-2010-2014.png</image:loc><image:title>Shanghai SE Composite vs S&amp;P500 2010-2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/seven-lucky-gods.png</image:loc><image:title>Seven Lucky Gods</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/loans-and-booms-china-vs-crisis-countries-page1.png</image:loc><image:title>Loans and Booms - China vs Crisis countries-page1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/china-house-prices-vs-stock-market-and-bank-deposits-ceic-data-peterson-institute.png</image:loc><image:title>China House Prices vs Stock Market and Bank Deposits - CEIC Data Peterson Institute</image:title></image:image><lastmod>2014-12-04T11:37:27+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/10/24/the-celtic-tiger-and-the-eurozone-periphery/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/spain_house_prices_2002_-_2014.png</image:loc><image:title>Spain_house_prices_2002_-_2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/real-gdp_eu_chart7-1996-2011.png</image:loc><image:title>Real GDP_EU_chart7 - 1996-2011</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/psi20_vs_iseq_2004_-2014-bigchart-com.png</image:loc><image:title>PSI20_vs_ISEQ_2004_-2014 Bigchart.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/iseq-vs-sagd-2003-2014-yahoo.png</image:loc><image:title>ISEQ vs SAGD 2003-2014 yahoo</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/irish_property_price_index_2005-2014_cso.png</image:loc><image:title>Irish_Property_price_index_2005-2014_CSO</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/irish-10-yr-gilts-2006-2014-trading-economics.png</image:loc><image:title>Irish 10 yr Gilts 2006 - 2014 Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/ireland-gdp-2011-2014.png</image:loc><image:title>Ireland GDP 2011-2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/ireland-population-source-cso.png</image:loc><image:title>Ireland - Population - source CSO</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/ibex-vs-iseq-1996-2014-yahoo.png</image:loc><image:title>IBEX vs ISEQ 1996 - 2014 yahoo</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/government_surplus_or_deficit_since_2001_piiggs_an.png</image:loc><image:title>Government_surplus_or_deficit_since_2001_piiggs_an</image:title></image:image><lastmod>2014-12-04T11:36:45+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/11/07/an-italian-stress-test/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/mib-vs-eurostoxx-50-etf-10yr.png</image:loc><image:title>MIB vs Eurostoxx 50 ETF - 10yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/italy-and-netherland-government-debt-to-gdp.png</image:loc><image:title>Italy and Netherland Government debt to GDP</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/italian_gdp_per_head_2008.png</image:loc><image:title>italian_GDP_per_head_2008</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/italian-vs-spanish-banks-roi.png</image:loc><image:title>Italian vs Spanish Banks ROI</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/eu-property-prices-mdbriefing.png</image:loc><image:title>EU Property prices - mdbriefing</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/domestic-sovereign-debt-exposure-of-eu-banks.png</image:loc><image:title>Domestic Sovereign debt exposure of EU banks</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/240px-palazzo_salimbeni_siena.png</image:loc><image:title>240px-Palazzo_Salimbeni_Siena</image:title></image:image><lastmod>2014-12-04T11:36:04+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/11/21/oil-and-growth/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/wti-spot-july-1990-march-1991.png</image:loc><image:title>WTI Spot - July 1990 - March 1991</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/us-dollar-index-november-2007-november-2014.png</image:loc><image:title>US Dollar Index - November 2007 - November 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/opec-secondary-sources-september-2014.png</image:loc><image:title>OPEC-Secondary-Sources  September 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/oil-and-gdp-imf-fulcrum.png</image:loc><image:title>Oil and GDP - IMF Fulcrum</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/libyan-crude_oil_production-eia.png</image:loc><image:title>Libyan crude_oil_production EIA</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/eem-vs-sandp-5yr.png</image:loc><image:title>EEM vs SandP 5yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/11/twi-spot-november-2007-november-2014.png</image:loc><image:title>TWI Spot - November 2007 - November 2014</image:title></image:image><lastmod>2014-11-21T08:43:20+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/10/10/the-scotian-experiment-and-european-fragmentation/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/10/gbp-effective-exchange-rate-boe.png</image:loc><image:title>GBP Effective Exchange rate - BoE</image:title></image:image><lastmod>2014-10-10T08:54:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/09/26/the-us-as-a-store-of-value/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/us-twi-1995-2014-st-louis-fed.png</image:loc><image:title>US$ TWI - 1995-2014 - St Louis Fed</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/us-index-25yr-barchart-com.png</image:loc><image:title>US$ Index - 25yr - Barchart.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/us-trade-balance-1995-2014-trading-economics.png</image:loc><image:title>US Trade Balance - 1995-2014 - Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/us-leading-indicators-1995-2014-st-louis-fed.png</image:loc><image:title>US Leading Indicators 1995-2014 - St Louis Fed</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/us-gdp-1995-2014-trading-economics.png</image:loc><image:title>US GDP - 1995-2014 - Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/philly_fed_-_july_2014_leading_indicators.png</image:loc><image:title>Philly_Fed_-_July_2014_Leading_Indicators</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/gold-25-year-barchart.png</image:loc><image:title>Gold - 25 year - Barchart</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/foreign_official_and_private_investment_positions_.png</image:loc><image:title>Foreign_Official_and_Private_Investment_Positions_</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/eu-trade-balance-1999-2014-trading-economics.png</image:loc><image:title>EU Trade Balance - 1999-2014 - Trading Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/eu-gdp-1995-2014-trading-economics.png</image:loc><image:title>EU GDP 1995-2014 - Trading Economics</image:title></image:image><lastmod>2014-09-26T05:55:39+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/09/12/german-growth-prospects-the-ecb-and-russian-gas/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/wti-spot-1-yr.png</image:loc><image:title>WTI Spot 1 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/world-lng-prices-june-2014-aei-and-ferc-page1.png</image:loc><image:title>World LNG prices - June 2014 AEI and FERC-page1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/world-lng-prices-july-2014-ferc.png</image:loc><image:title>World LNG prices - July 2014 FERC</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/us-spot-nat-gas-1-yr.png</image:loc><image:title>US Spot Nat Gas 1 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/ttf-gas-daily-reference-prices-source-eex.png</image:loc><image:title>TTF Gas Daily Reference Prices - source EEX</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/natural-gas-price-comparison-schneider-electric-page1.png</image:loc><image:title>Natural Gas price comparison - Schneider Electric-page1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/main-origin-of-primary-energy-imports-source-eurostat.png</image:loc><image:title>Main origin of primary energy imports - Source EuroStat</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/germany-gas-grid-iea-page1.png</image:loc><image:title>Germany - Gas Grid - IEA-page1</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/german-gdp-2002-2014.png</image:loc><image:title>German GDP - 2002-2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/09/eu-28-gas-storage-bloomberg.png</image:loc><image:title>EU-28 Gas Storage-Bloomberg</image:title></image:image><lastmod>2014-09-12T06:51:10+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/08/15/the-spanish-renaissance/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/uk-house-prices-1989-1995.png</image:loc><image:title>UK House Prices - 1989 - 1995</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/spain-wages-2006-2014.png</image:loc><image:title>Spain Wages - 2006 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/spain-productivity-2000-2014-eurostat.png</image:loc><image:title>Spain Productivity - 2000 - 2014 - Eurostat</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/spain-house-prices-2004-2014.png</image:loc><image:title>Spain House Prices 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/sapin-unemployment-1976-2014.png</image:loc><image:title>Spain Unemployment 1976 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/non-performing-loan-ratio-aei-moody.png</image:loc><image:title>Non-Performing Loan Ratio - AEI - Moody</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/ez-unemployment-ny-fed-haver-analytics.png</image:loc><image:title>EZ Unemployment - NY Fed Haver Analytics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/ez-inflation-rates-ny-fed-haver-analytics.png</image:loc><image:title>EZ Inflation Rates - NY Fed Haver Analytics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/08/10-yr-spanish-bond-yields-since-1789.png</image:loc><image:title>10 yr Spanish bond yields since 1789</image:title></image:image><lastmod>2014-08-15T10:17:48+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/07/18/the-fourth-arrow-option-how-japan-may-side-step-structural-reform/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/usdjpy-3yr-weekly-barchart-com.png</image:loc><image:title>USDJPY 3yr weekly - Barchart.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/total-central-bank-assets-as-percentage-of-gdp-bis.png</image:loc><image:title>Total central bank assets as percentage of GDP - BIS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/nikkei-255-pe-ratio-20yr.png</image:loc><image:title>Nikkei 255 - PE Ratio - 20yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/jgb-10-yr-yield-monthly-2008-2014.png</image:loc><image:title>JGB 10 yr yield - monthly 2008 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/japan-real-gdp-and-expenditure-david-andolfatto.png</image:loc><image:title>Japan Real GDP and Expenditure - David Andolfatto</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/japan-credit-federal-reserve.png</image:loc><image:title>Japan Credit - Federal Reserve</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/07/house-prices-oecd.png</image:loc><image:title>House Prices - OECD</image:title></image:image><lastmod>2014-07-18T16:30:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/07/04/will-the-next-phase-of-easing-be-qualitative-purchasing-common-stock/</loc><lastmod>2014-07-14T16:11:44+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/06/20/oil-emerging-markets-and-inflation/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/world-oil-production-and-consumption-energy-insights.gif</image:loc><image:title>World Oil Production and Consumption - Energy Insights</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/us-crude-oil-production-us-gloabl-investors.gif</image:loc><image:title>US Crude Oil Production - US Gloabl Investors</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/iraq-oil-production-energy-insights.gif</image:loc><image:title>Iraq Oil Production - Energy insights</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/gloabl-crude-oil-demand-yardeni.gif</image:loc><image:title>Gloabl Crude Oil demand - yardeni</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/energy-subsidies-worldwatch.png</image:loc><image:title>Energy Subsidies - worldwatch</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/brent-crude-2003-2014-barchart-com.png</image:loc><image:title>Brent Crude 2003-2014 barchart.com</image:title></image:image><lastmod>2014-07-14T16:10:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/06/06/a-very-french-revolt/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/global-house-prices-oecd-deutsche-bank-february-2014.jpg</image:loc><image:title>Global House Prices - OECD + Deutsche bank - February 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/oat-10yr-yield.png</image:loc><image:title>OAT 10yr yield</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/cac40-source-yahoo-finance.png</image:loc><image:title>CAC40 - source - yahoo finance</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/06/18052014311.jpg</image:loc><image:title>18052014311</image:title></image:image><lastmod>2014-07-14T16:09:26+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/05/23/emerging-asia-ex-china-prospects-for-growth-currency-stocks-and-bonds/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/05/inr-blue-idr-purple-cnh-light-blue-1-yr-bloomberg.png</image:loc><image:title>INR blue - IDR purple - CNH light blue 1 yr - bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/05/thb-blue-php-purple-myr-light-blue-1-year-bloomberg.png</image:loc><image:title>THB blue - PHP purple - MYR light blue - 1 year - bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/05/msci-em-vs-sp-5-yr-yahoo-finance.png</image:loc><image:title>MSCI EM vs S&amp;P - 5 yr - Yahoo Finance</image:title></image:image><lastmod>2014-07-14T16:08:31+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/05/09/canada-australia-new-zealand-commodities-vs-housing/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/05/cad-effective-exchange-rate-and-capital-flows.png</image:loc><image:title>CAD effective exchange rate and capital flows</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/05/aud-twi-source-fxstreet-com.gif</image:loc><image:title>AUD TWI - source FXstreet.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/05/nzd-twi-source-ricardianambivalence-com.png</image:loc><image:title>NZD TWI - source ricardianambivalence.com</image:title></image:image><lastmod>2014-07-14T16:07:38+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/04/25/the-limits-of-convergence-eurozone-bond-yield-compression-cracks/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/04/europe-bond-yields-1993-2011.png</image:loc><image:title>Europe Bond Yields - 1993 - 2011</image:title></image:image><lastmod>2014-07-14T16:05:59+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/04/11/how-much-will-the-fed-taper-and-what-will-they-do-to-offset-the-effect/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/04/us-household-net-worth-sp-500-fed-balance-sheet-source-weldononline.gif</image:loc><image:title>US Household net worth - S&amp;P 500 - Fed Balance Sheet - source Weldononline</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/04/us-capex-and-capu.png</image:loc><image:title>US Capex and Capu</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/04/mbs-new-issuance-source-sober-look.png</image:loc><image:title>MBS New issuance - source - sober look</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/04/maturity-distribution-of-us-treasuries-on-fed-balance-sheet.jpg</image:loc><image:title>Maturity Distribution of US Treasuries on Fed Balance Sheet</image:title></image:image><lastmod>2014-07-14T16:04:52+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/03/28/china-rebalancing-and-the-risks-to-world-growth/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/usd-cny-2009-2014.png</image:loc><image:title>USD-CNY 2009-2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/chinese-loans.png</image:loc><image:title>Chinese loans</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/china-retail-sales-2010-2014.png</image:loc><image:title>China retail sales 2010 - 2014</image:title></image:image><lastmod>2014-07-14T16:02:28+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/03/14/el-nino-commodities-and-the-export-of-emerging-market-inflation/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/wti-monthly-2004-2014.png</image:loc><image:title>WTI Monthly - 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/world-coal-production-forecast-2100.png</image:loc><image:title>World Coal Production Forecast - 2100</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/us-wheat-monthly-2004-2014.png</image:loc><image:title>US Wheat - monthly 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/us-soybeans-monthly-2004-2014.png</image:loc><image:title>US Soybeans - monthly 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/us-rough-rice-monthly-future-2004-2014.png</image:loc><image:title>US Rough Rice - monthly future - 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/us-nat-gas-monthly-2004-2014.png</image:loc><image:title>US Nat Gas - Monthly - 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/us-corn-monthly-2004-2014.png</image:loc><image:title>US Corn - monthly 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/us-copper-monthly-2004-2014.png</image:loc><image:title>US Copper - monthly - 2004 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/soc-gen-em-currency-forecasts-from-march-2014-to-dec-2014.png</image:loc><image:title>Soc Gen EM Currency Forecasts from March 2014 to Dec 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/03/pimco-em-currency-etf-2012-2014.png</image:loc><image:title>PIMCO EM Currency ETF - 2012 - 2014</image:title></image:image><lastmod>2014-07-14T16:01:00+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/02/28/trading-the-ukraine-and-other-geopolitical-risks/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/nuclear-weapons-states.png</image:loc><image:title>Nuclear weapons states</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/nat-gas-price-2007-2014.png</image:loc><image:title>Nat Gas Price - 2007 - 2014</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/eurostoxx50-1987-1996.png</image:loc><image:title>EuroStoxx50 - 1987 - 1996</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/ukraine-map.gif</image:loc><image:title>Ukraine - Map</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/shia-and-sunni-map-of-the-middle-east.jpg</image:loc><image:title>Shia and Sunni Map of the Middle East</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/sp500-2000-2004.png</image:loc><image:title>S&amp;P500 - 2000-2004</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/sp500-1990-1992.png</image:loc><image:title>S&amp;P500 - 1990-1992</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/islam-by-country-2010.png</image:loc><image:title>Islam by country 2010</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/gold-1-yr.png</image:loc><image:title>Gold 1 yr</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/germany-dax-1986-1993.png</image:loc><image:title>Germany DAX 1986 - 1993</image:title></image:image><lastmod>2014-07-14T15:49:04+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/02/14/emerging-markets-and-disinflation-in-developed-economies/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/weighted-average-broad-money-growth-us-eu-japan-uk-source-pi-economics.png</image:loc><image:title>Weighted Average Broad Money Growth - US EU Japan UK - source Pi Economics</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/msci-emerging-market-etf-5-yr-source-yahoo-finance.png</image:loc><image:title>MSCI Emerging Market ETF - 5 yr - source yahoo finance</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/em-private-capital-inflows-source-world-bank.gif</image:loc><image:title>EM Private Capital Inflows - source World Bank</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/em-inflation-source-mauldin-economics-and-bloomberg.png</image:loc><image:title>EM Inflation - source Mauldin Economics and Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/em-currencies-source-mauldin-economics-and-bloomberg.png</image:loc><image:title>EM Currencies - source Mauldin Economics and Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/02/em-bond-yields-source-mauldin-economics-and-bloomberg.png</image:loc><image:title>EM Bond yields - source Mauldin Economics and Bloomberg</image:title></image:image><lastmod>2014-07-14T15:48:02+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/01/31/whither-the-uk-from-tantalus-to-sisyphus/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/uk-house-prices-and-annual-momentumn-dec-2013-source-market-oracle-com-and-halifax.gif</image:loc><image:title>UK house prices and annual momentumn-Dec-2013 - source Market Oracle.com and Halifax</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/uk-mortgage-to-income-ratio-source-moneystepper-com.jpg</image:loc><image:title>UK mortgage to income ratio - source moneystepper.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/uk-exports-10-yr-source-tradingeconomics-and-ons.png</image:loc><image:title>UK Exports - 10 yr - source tradingeconomics and ONS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/uk-baby-boom-source-ons.gif</image:loc><image:title>UK Baby boom - source ONS</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/total-debt-to-gdp-ratios-source-dailymail.jpg</image:loc><image:title>Total Debt to GDP ratios - source DailyMail</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/real-house-prices-since-1975-source-nationwide-building-society.png</image:loc><image:title>Real House Prices since 1975 - source Nationwide Building Society</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/ratio-m4-to-m0-source-bank-of-england.png</image:loc><image:title>Ratio M4 to M0 - source Bank of England</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/gbp-usd-fx-10yr-source-fxtop-com.png</image:loc><image:title>GBP-USD FX 10yr - source fxtop.com</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/first-time-buyers-as-percentage-of-home-loans-source-council-for-mortgage-lenders.jpg</image:loc><image:title>First Time Buyers as percentage of home loans - source Council for Mortgage Lenders</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/gbp-trade-weighted-index-1990-2013-source-ashraflaidi.gif</image:loc><image:title>GBP Trade Weighted Index - 1990 - 2013 - source AshrafLaidi</image:title></image:image><lastmod>2014-07-14T15:46:56+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2014/01/17/european-markets-and-unification/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/sovereign-debt-default-and-primary-balances-source-imf.jpg</image:loc><image:title>Sovereign Debt Default and Primary Balances - Source IMF</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/german-exports-and-imports-by-region-source-quartz.gif</image:loc><image:title>German exports and imports by region - source Quartz</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/eurozone-m3-ecb.png</image:loc><image:title>Eurozone M3 - ECB</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/european-bond-yields-2005-2014-bloomberg.gif</image:loc><image:title>European Bond Yields - 2005 - 2014 - Bloomberg</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2014/01/baltic-dry-index-29-yrs.png</image:loc><image:title>Baltic Dry index 29 yrs</image:title></image:image><lastmod>2014-07-14T15:45:34+00:00</lastmod><changefreq>monthly</changefreq></url><url><loc>https://inthelongrun.co.uk/2013/12/16/commodity-super-cycles-in-a-fiat-currency-world-3/</loc><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/soybeans-10yr-chart.gif</image:loc><image:title>Soybeans - 10yr chart</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/corn-10yr-chart.gif</image:loc><image:title>Corn - 10yr chart</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/wheat-10yr-chart.gif</image:loc><image:title>Wheat - 10yr chart</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/gold-2yr-chart.gif</image:loc><image:title>Gold - 2yr chart</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/copper-lme-warehouse-levels-5-yr-source-infomine.png</image:loc><image:title>Copper LME warehouse levels - 5 yr - source infomine</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/copper-24-yr-chart-source-infomine.png</image:loc><image:title>Copper - 24 yr chart - source infomine</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/iron-ore-5yr-chart-source-infomine.png</image:loc><image:title>Iron Ore - 5yr chart - source infomine</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/us-thermal-coal-capp-2001-to-2013-source-infomine.png</image:loc><image:title>US Thermal Coal CAPP - 2001 to 2013 - Source Infomine</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/us-natural-gas-6-month-chart-source-infomine.png</image:loc><image:title>US Natural Gas - 6 month chart - source infomine</image:title></image:image><image:image><image:loc>https://inthelongrun.co.uk/wp-content/uploads/2013/12/us-natural-gas-5-yr-chart-infomine.png</image:loc><image:title>US Natural Gas - 5 yr chart - 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