David Zervos
ON THE RECORD · 7 verbatim quotes · every quote source-verified
“In 2008, [the IMF's World Economic Outlook] had world growth at 3% and we had the first global contraction in post-world history a year later. We saw them positive on Southeast Asia in 1997 before the collapse.”
David Zervos · said 2026-10-15 · reported 2026-10-15
Zervos cited what he called the IMF's poor forecasting record, pointing to errors around the 2008 global contraction and the 1997 Southeast Asia collapse.
“So take it all with a grain of salt,”
David Zervos · said 2026-10-15 · reported 2026-10-15
Zervos concluded his critique of the IMF's forecasting track record by urging skepticism of its warnings.
“We saw them very negative on Russia in 2022, and Russia actually barely saw a blip down in growth before it started growing strongly. We saw them very positive on Argentina after their big bailout of $57 billion. And by 2020, Argentina was basically in default again. And the history books go on and on, whether it's Greece, whether it was the transitory call on inflation in the U.S.”
David Zervos · said 2026-10-15 · reported 2026-10-15
Zervos continued listing what he described as IMF forecasting failures, citing Russia, Argentina, Greece, and the transitory inflation call in the U.S.
“When we see pieces on the IMF, it's good to remember how messy their forecasts have been in the past,”
David Zervos · said 2026-10-15 · reported 2026-10-15
Zervos made the comments in an emailed response to the IMF's criticism of U.S. fiscal policy during the IMF-World Bank annual meetings in Bangkok.
“It's not running away from anybody,”
David Zervos · said date not stated · reported 2026-08-21
David Zervos downplays concerns over recent yield spikes on the 10-year note.
“What we're seeing is a different kind of Treasury secretary, someone who's willing to come in and be more tactical, and that is something new for the market, and the market's going to have to adjust to that,”
David Zervos · said date not stated · reported 2026-08-21
David Zervos describes Treasury Secretary Scott Bessent's tactical approach to the bond market.
“one of the tightest ranges”
David Zervos · said date not stated · reported 2026-08-21
David Zervos discusses the historical trading range of the 10-year note.