Financial News is due to meet Bryan Corbett just hours after China has retaliated against tariffs imposed by US president Donald Trump. The head of the Managed Funds Association would be forgiven for having to cancel at short notice in order to deal with the fallout.

As head of the trade body for alternative asset managers, Corbett arguably has more skin in the game than most — a spike in US bond yields that morning has been blamed on hedge funds unwinding their Treasury basis and swap spread trades.