Fed Playing Chicken with Bond Market – Ep 667

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 13 March 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Investors starting to adopt my thesis.
* Money doesn’t create purchasing power.
* Biden’s stimulus is just a down payment.
* Massive loopholes will be exploited.
* Artists and athletes like Beeple and Gronk are ripping off their fans.

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Transcript

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0:00.0	The Peter Shif Show.
0:09.2	Today's episode of the Peter Shif Show podcast is sponsored by Raycon.
0:13.9	Raycon Wireless Earbuds start at half the price of other premium audio brands.
0:20.4	Raycon is offering you 15% off all of their products and here's all you got to do to get
0:26.3	it.
0:27.3	Raycon.com slash gold.
0:30.0	The Dow Jones rose again today to finish at another all time record high.
0:35.8	Dow up almost 300 points, closing at 32,778.
0:42.2	The NASDAQ on the other hand was down about half a percent today, 78 points as the rotation
0:49.8	out of growth into value continues.
0:53.5	And what is leading that rotation is the relentless rise in long term bond yields which continued
1:01.8	again today.
1:03.6	The yield on the 10 year closing at a new high post pandemic, 1.635 is where the yield
1:12.3	closed the week.
1:14.0	The high print on the day was 1 spot 642.
1:18.6	So just off the highs in yields on the 30 year yield were just above 2.4.
1:25.1	We got to 2.404 was the high.
1:29.0	We closed just the tick below that really at 2 spot 402.
1:34.0	So we are now higher than the yields were when David Tepper came on CNBC to save the stock
1:40.5	market by claiming that yields had top.
1:43.7	Well on my podcast I said that I didn't think Tepper was right and the market has already
1:48.8	proved him wrong because yields are now higher now than they were back then.
	...

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