All-Stars #28 Louis-Vincent Gave: $13tn of Negative-Yielding Debt

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 8 July 2019

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

All-star Louis-Vincent Gave tells Erik Townsend that $13.5tn of negative-yielding sovereign debt around the world is a sign the global economy is in serious trouble. U.S. Stocks may be at all-time highs, but the rest of the world is in decline. Link: http://bit.ly/2XKIfuH

Transcript

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0:00.0	This is a special edition of Macrovoises with hedge fund manager Eric Townsend.
0:14.2	The premier financial podcast targeting professional finance, high net worth individuals, family
0:19.8	offices, and other sophisticated investors.
0:23.0	Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.
0:30.0	Macrovoises All Stars episode number 28 was recorded on July 8, 2019.
0:36.2	I'm Eric Townsend.
0:38.0	All Star Louis Vincent Gav is back with us today.
0:41.4	Louis, it's great to talk to you again.
0:43.5	Here we are.
0:44.5	Well, not quite all time highs today, but just a couple of sessions ago.
0:47.8	We went above 3,000 on the S&P.
0:50.7	New all time highs.
0:51.9	The bulls are screaming.
0:53.5	This can only mean one thing, which is everything is great in the economy.
0:57.4	Nothing's wrong what's to worry about higher from here.
1:00.9	But hang on a second.
1:01.9	We got 13.5 trillion dollars of negative yielding cyber debt around the world.
1:06.9	And although the bond market is not quite at an all time high, it's awfully high.
1:12.3	It doesn't really jive with what we would normally expect when we see the stock market
1:16.8	breaking out to new all time highs.
1:19.0	What's going on here?
1:20.0	What does it mean and what can we expect?
	...

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