Junk Yields Rising, Bitcoin Sniffing Out Yield Curve Control, and GameStop's Hearings

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 19 February 2021

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Feb18,2021: Real Vision managing editor Ed Harrison welcomes Tyler Neville of Blockworks back to the Daily Briefing to share his thoughts on everything from implied volatility in the credit markets to the ongoing congressional hearings on GameStop’s remarkable rise and fall. Reporting from Austin, Texas, Neville shares his experience amid the ongoing arctic frost that is depriving so many Texans of electricity, heat, and running water as well as disrupting U.S. oil production by over 40%. Neville then shares with Harrison his analysis on lumber and homebuilding stocks and explores whether this crisis will cause secular inflation. Harrison and Neville then turn their gaze to the rising yields of U.S. Treasurys, which Neville thinks could be a wrecking ball for all risk assets. However, Neville argues that the Federal Reserve will enact yield curve control, and it is this possibility which Bitcoin and crypto investors have already “sniffed out.” Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Texas in rolling blackouts. What's the message for the market? Reddit rebel, deep
0:17.8	effing value on the hill. Why should we care? And Treasury selling off? Are they headed
0:23.9	to 150? All that and a lot more coming right up with Tyler Neville. Tyler, welcome back to the show.
0:31.8	Thanks for having me and always good to be here. So two things. One is I know that you have a new
0:38.4	newsletter that you write and I know that you're in Texas where they have the rolling blackouts.
0:45.1	So let's start with those two things. Tell me about the newsletter and then tell me what's
0:49.4	going on down there. Yeah so basically the newsletter is just everything macro and crypto combined.
0:56.4	So we're we're seeing a lot of those two worlds combined and what we want to do is kind of
1:02.0	teach the legacy macro world about crypto and vice versa right because a lot of a lot of the
1:08.2	things kind of react to the same factors. So that's first off second off living in Austin in
1:14.7	this frozen tundra is just a real surreal experience compared to any other part of the country I've
1:22.0	lived in. When I lived in Boston you take for granted all the infrastructure you have for like
1:29.3	you know snow plows shoveling salt and down here there's not one of those for 2,000 miles so
1:36.8	everything stops like grocery stores were closed. You can't get on the roads. You can't like go
1:41.8	anywhere the the entire like pavement outside is just a sheet of ice to the point where like I
1:48.3	can't even walk outside of my kids. So that is why we're seeing a lot of the supply chain
1:53.7	disruptions in in stuff like oil right now. Yeah and you know I want to get to that but do you
2:00.1	think that this whole phenomenon is I mean they never get this kind of weather anyway do you think
2:06.0	that it's a bad planning on Texas part everyone's really talking about it from the perspective of
2:11.6	how could they be so vulnerable in Alaska they have a power grid that works you know in Massachusetts
2:18.1	obviously they have one that works too. Yeah this is like a tail risk thing I don't think you can
2:24.0	blame the the politicians or any of the infrastructure things like my house wasn't built for cold weather
	...

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