Harley Bassman on Why the Big Moves in the Bond Market Are Done

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 11 January 2024

⏱️ 49 minutes

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Summary

Harley Bassman, a.k.a. the Convexity Maven, is a legend among bond investors. He worked at Merrill Lynch, where he invented the MOVE Index that measures bond market volatility, and then at Pimco. Now, after a dramatic year for US Treasuries that saw investors hit with massive amounts of volatility only for the 10-year yield to basically wind up where it was at the start of 2023, he sees things starting to get a bit more normal. With the Federal Reserve getting closer to its 2% inflation target, the yield curve is going to steepen after years of intense inversion, he says. Now a managing partner at Simplify Asset Management, Bassman also talks about his favorite trades for 2024, Fed Chairman Jerome Powell's legacy, and how he chooses his famously esoteric chart colors.

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0:00.0	At public, we took fixed income and fixed it.
0:03.0	Now you can find, evaluate, and buy thousands of bonds
0:06.0	with an investing experience designed this century.
0:09.0	Go to public.com slash bonds podcast to get started. This podcast is sponsored by public.
0:15.0	Full disclosures can be found at public.com slash bonds.
0:18.0	Hi there, it's Jill Wiesenthal.
0:21.0	And Tracy Allaway, the co-host of the Oddlots Podcast.
0:24.4	If you're a fan of our coverage on things like auto, clean energy markets, there's a new show from
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1:01.2	Yep, you can listen to Elon Inc. from Bloomberg Business Week on Apple Podcast, Spotify,
1:07.0	I-Heart, or wherever you get your podcast. Hello and welcome to another episode of the Odd Lots Podcast, I'm
1:25.0	I'm Tracy Allaway and I'm Joe Weisenthaw.
1:26.0	Joe you know what one of the weirdest things about 2023 was?
1:30.0	I mean I guess there's that's an unfair question isn't it?
	...

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