A Healthy Pullback (EP.357)

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 24 April 2024

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

On episode 357 of Animal Spirits, Michael Batnick and Ben Carlson discuss: why the stock market needed a correction, why the 1990s is an outlier (in more ways than one), economic growth is a policy choice, Gen Z is doing better than you think, living in the U.S. vs. Europe, the number of households with a paid off mortgage, the renovation boom, and much more! This episode is brought to you by Franklin Templeton. To learn more about the Franklin High Yield Corporate ETF (FLHY) visit: https://www.franklintempleton.com/. Sign up for The Compound newsletter and never miss out: https://www.thecompoundnews.com/subscribe Buy tickets to live TCAF in LA! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Feel free to shoot us an email at [email protected] with any feedback, questions, recommendations, or ideas for future topics of conversation. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits is brought to by Franklin Templeton.
0:02.8	Ben, do you remember back in the days of the pandemic
0:06.6	and even really before the pandemic,
0:08.6	when high yield bonds, and when we say high yield,
0:11.2	these are companies that are not investment grade, like not
0:13.4	Apple or Microsoft, but a notch below.
0:16.5	We're yielding like 5% give or take.
0:20.9	They weren't high yield anymore.
0:23.0	Yeah, high yield.
0:24.0	I mean, it's all relative.
0:25.0	In name only.
0:26.0	High yield and yeah, that's all right, high yield and name only.
0:29.0	And there was, you know, at the time people were allocated there,
0:33.1	because that's what you did, I guess,
0:35.1	when Treasury's were offering you 65 basis points,
0:37.4	you said, I'll take more risk or like a 5%.
0:40.0	Where are you're bonds today?
0:42.0	I mean, depending on where you're looking,
0:43.6	seven, eight, nine percent, right?
0:45.1	The yields are much higher.
0:46.3	So spreads are still tight, right?
0:48.0	Spreads are still tight relative to treasures
	...

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