Harley Bassman on Trump, the Fed, and the Bond Market
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 7 November 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
The US election is over and Donald Trump has won a second term as president. Stocks have rallied on Trump's win, of course, but some of the more interesting moves have taken place in the bond market. Not only have yields on US Treasuries shot up, but expectations for volatility in the world's most important market were also shifting higher ahead of Trump's win. All of this is happening even though the Federal Reserve is widely expected to cut benchmark rates again this week. So what's driving higher yields? On this episode, we speak with Harley Bassman, managing partner at Simplify Asset Management and creator of Convexity Maven, about all the recent moves in bonds and what could be coming next.
Read More:
Volfefe Returns to the Bond Market
The Market’s Constraint on Full Trumpism
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Transcript
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| 0:00.0 | Direct lending has been one of the most dynamic areas of the private alternative space these last few years, |
| 0:05.9 | having grown massively as a source of capital for both corporate borrowers, |
| 0:10.0 | but also financial sponsors that have kept going from strength to strength, |
| 0:13.5 | and have needed that private capital to foster the growth that they've been experiencing. |
| 0:17.8 | For leading alternative investing insights, listen to Speaking of Alternatives from |
| 0:24.0 | P-GIM. |
| 0:25.8 | We're in the middle of a truly wild presidential race, pitting a Democrat who wasn't on |
| 0:31.0 | the ballot until this summer against a Republican who was convicted on 34 felony counts, |
| 0:36.4 | but the wildest thing might be this guy. |
| 0:39.1 | If you already believe in the Constitution, you're just signing something you already believe, and you can win a million dollars. |
| 0:44.0 | That's awesome. |
| 0:44.7 | I'm Max Chafkin, and this is Citizen Elon, a three-part series from Elon Inc. |
| 0:48.6 | where we investigate Elon Musk's unprecedented support for Donald Trump. |
| 0:52.8 | Follow Elon Inc. on Apple Podcasts or wherever you like to listen. |
| 0:59.2 | Bloomberg Audio Studios. |
| 1:01.7 | Podcasts, Radio News. Hello and welcome to another episode of the Odd Lots podcast. I'm Tracy Allaway. |
| 1:20.9 | And I'm Joe Wisenthall. |
| 1:22.5 | Joe, the week's not over. |
| 1:26.5 | Yeah. We're recording this November 6th at 1033 a.m. |
| 1:32.9 | But one thing that is over is a lot of people expected that at this point there would be |
| 1:38.7 | significant ambiguity about who had won the election. |
| 1:41.6 | And actually that part is over. |
... |
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