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The global financial system is running a fever, and this week the authorities declared war on the thermometer. Jeremy McKeown separates the signal from the theatre: why the surge in long-term Treasury, gilt and bund yields is a real-yield repricing of sovereign risk, not an inflation scare. Why Treasury Secretary Scott Bessent's surprise bond buyback moved markets for twelve hours and then failed. A put is a bluff with no printing press behind it. Why the AI chip sell-off was a discount-rate shift, not demand cracking. Why Japan and the yen carry trade are where the margin call sits. And why gold, now joined by Bitcoin, is voting no confidence in fiscal sanity. Essential listening for active investors trying to protect capital amid fiscal dominance, rising rates and the AI capex boom.
investing, markets, macro, stocks, capital, bonds, bond vigilantes, Treasury yields, fiscal dominance, Scott Bessent, bond buyback, Federal Reserve, Kevin Warsh, inflation, gold, Bitcoin, AI bubble, Nvidia, Anthropic, yen carry trade, Bank of Japan, Jackson Hole
This podcast explores stocks, markets, and capital, examines the role of gold in finance, unpacks tax policy and economics, discusses pathways to financial freedom and retirement, explains how interest rates affect investing, features insights from financial advisers, analyzes inflation, recession, and market volatility, covers the actions of central banks, evaluates different assets, addresses inheritance planning, reviews portfolio construction with bonds and an isa, assesses long-term returns and allocation strategies, explores macro trends, and helps listeners understand risk and pensions.
