Josh Younger Explains Why the Bond Market Has Been So Volatile
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 11 July 2022
⏱️ 52 minutes
🧾️ Download transcript
Summary
The market for US Treasuries is arguably one of the most important and liquid markets in the world. But it's been experiencing a number of hiccups in recent years, such as the sudden selloff of March 2020. And in more recent weeks, yields on US government debt have also spiked as the Federal Reserve raises interest rates. Some of that makes sense as the central bank makes big changes to its forecast for inflation and markets adjust to the new path. But the degree of the moves has also led some traders to conclude that there's a problem in the way this huge market is functioning. So why does a market that should be pretty boring keep experiencing all this drama? On this episode, we bring back Josh Younger, Managing Director and Global Head of ALM Research and Strategy at JPMorgan, to talk about why bonds keep going through all these shocks and what can be done to minimize them.
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Transcript
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| 0:00.0 | As of 9-1-20-23, you may earn a 5.5% annualized yield with six-month T-bills of held to maturity. |
| 0:06.4 | But who's got time to purchase US Treasuries? Doesn't that involve going to a bank? |
| 0:10.0 | Or navigating a government website that looks like it was designed in 1996? Turns out, |
| 0:14.4 | you can go to public.com, purchase Treasury bills in seconds, |
| 0:17.5 | and you may be able to earn some of the highest yields we've seen since the year 2000. |
| 0:21.2 | Visit public.com slash T-Bill podcast to get started. |
| 0:24.9 | This is a paid endorsement by public.com, fees and conditions apply. |
| 0:28.4 | Treasury accounts at public.com or through Gico Securities Inc. |
| 0:31.5 | Member Finra and SIPC. Not FDIC-insured? No bank guarantee. |
| 0:35.1 | May lose value. Full disclosures can be found at www.public.com slash T-Bill podcast. |
| 0:41.5 | This is Lisa Brahmowitz here to tell you about another podcast we think you'll enjoy listening to. |
| 0:46.4 | Bloomberg Surveillance. Join Tom Keane, Jonathan Farrow and me every weekday, |
| 0:50.8 | for a unique perspective on the worlds of economics, finance and investment. |
| 0:54.8 | Plus, insight from the names that shaped the world's markets. |
| 0:58.0 | Savage Solomon, the Goldman Sachs CEO. |
| 1:00.0 | Ian Bremmer, of Eurasia Group. |
| 1:01.4 | Pleased from said president of Redamesta. |
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| 1:20.8 | Hello and welcome to another episode of the All Thoughts podcast. |
| 1:24.0 | I'm Tracy Alloway. |
| 1:25.1 | And I'm Joe Weisenthal. |
| 1:26.6 | Joe, what's more volatile than crypto currencies at the moment? |
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