Today's listener mealbag edition of Animal Spirits is sponsored by Navi Plan by InvestCloud. Built on the most

precise calculation engine in the financial planning market, Naviplan empowers advisors to cater their

services to any client from simple goals-based assessments to advanced cash flow planning analysis.

To see how Naviplan helps model some of the concepts and strategies, discuss on today's episode,

visit at VicentSolutions.com.

Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael

Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Battenick and Ben Carlson work for Ritt Holtz Wealth Management. All opinions expressed

by Michael and Ben or any podcast guests are solely their own opinions and do not reflect the opinion of Ritt Holt's wealth management. This podcast is for informational purposes only and should not be relied upon for investment decisions. Clients of Rithold's wealth management may maintain positions and the securities discussed in this podcast.

We did another purge of our inbox

from listener questions. Thanks again to everyone who are writing in. And today we're going to go through

some of those questions. Remember, it's Animal SpiritsPod at gmail.com if you want to ask us a question.

This one came in this past week when interest rates rose and stocks fell off? Here's a good question. Why do we

talk about stocks in terms of price and bonds in terms of yield? For example, would it not be confusing

to the average investor if the headline said yields drop on Ford mortar stock? How is the

average investor supposed to interpret a newsday like today with the big drops and higher treasury

yields? What does it mean to the average investor when bond yields rise? Who decided that bond yields would rise? are supposed to interpret a newsday like today with the big drops and higher treasury yields.

What does it mean to the average investor when bond yields rise? Who decided that bond yields would rise? Well, the last part of the question is certainly the Fed. The Fed decides everything, right?

No. There's a pretty simple and then there's a pretty complex answer here.

The reason that we talk about bonds in terms of yield is, well, first of all, it's a hurdle

rate more than anything. And so people care what that actual yield level is. But also,

it's more difficult to calculate the returns in bonds because you're dealing with maturity and duration

...