BREAKDOWN: The Bond Market Is the Truth Teller No One Heeds, Feat. George Goncalves
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 July 2020
⏱️ 56 minutes
🧾️ Download transcript
Summary
A veteran bond strategist gives his take on why the bond market has a better read than equities on short-term and long-term macro trends.
This episode is sponsored by Bitstamp and Crypto.com.
Today on the Brief:
- More bad news from jobless claims and the GDP
- The big tech hearing was a whole bunch of nothing; watch TikTok instead
- Robinhood dives into Kodak (but so do illegal insider traders)
Our main conversation is with independent bond strategist George Goncalves.
We discuss:
- How the bond market watches Federal Reserve meetings
- What, if anything, was new about this week’s FOMC meeting
- What it means that the bond market and equities market tell different stories
- Why the bond market has been telling a long-term story of slowing growth
- Whether institutional investors are actually moving away from government debt and into gold
- Why Judy Shelton should have a place on the Federal Reserve
Find our guest online:
Twitter: @bondstrategist
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:49.4 | I feel like the core bond markets, which is the government markets and the tips market, |
| 0:53.6 | they're looking at all this information and they're saying that, you know, look, the Fed and the |
| 0:57.7 | U.S. government, obviously valiant efforts. |
| 1:00.0 | They did a massive campaign in March and April to try to stop the bleeding in the economy, |
| 1:04.7 | but they perhaps maybe shot a lot of their ammo too quick. |
| 1:08.0 | And now they've really, you know, limited the ability to actually arrest any sort of |
| 1:13.0 | second wave, both in COVID, but also a second wave in the economy slowing down in a more |
| 1:17.8 | proper recession. And I think that is lost upon most equity folks. |
| 1:24.0 | Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, Crypto, and Beyond. |
| 1:32.7 | This episode is sponsored by BitStamp and Crypto.com. |
| 1:37.3 | The breakdown is produced and distributed by CoinDesk. |
| 1:41.8 | And now, here's your host, NLW. |
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