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RiskReversal Pod

Nobody Is Blinking & That’s The Problem with Peter Boockvar

RiskReversal Pod

RiskReversal Media

Business News, Business, Investing, News

4.7836 Ratings

🗓️ 23 March 2026

⏱️ 36 minutes

🧾️ Download transcript

Summary

Dan Nathan and Peter Boockvar discuss why equities have been slow to react to a widening Middle East conflict even as oil and other commodities jump, arguing markets often assume geopolitical shocks fade until prolonged damage forces a delayed repricing. They note a sharp global rise in rates—U.S. 10-year near 4.4% and record highs in UK/European yields—as central banks shift from expected cuts to potential hikes due to inflation spillovers from energy. Boockvar warns higher yields (4.5% then 5% as key levels) can pressure equities, private credit (lower-quality, floating-rate borrowers), housing and real estate, and upper-income spending, raising recession risk if oil stays near $120. He highlights weakening AI/mega-cap leadership, cites rising private-credit defaults, and frames gold’s volatile pullback as post-parabolic consolidation amid a stronger dollar and higher real rates, while staying bullish longer term on sovereign-debt risks. —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Transcript

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0:00.0

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0:46.2

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0:48.2

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0:52.4

visit iConnections.io.

0:55.6

Welcome to the Risk Reversal podcast. I am Dan Nathan. That is Peter Bookbar. He is the CIO at

1:01.0

1.BFG Wealth Partners. Peter, welcome back to the podcast. Thanks for having me, Danny.

1:06.5

Always good to have you, but on a week that was, you and I recording this Friday, about midday

1:13.6

or so, so you're going to be listening to this Monday morning.

1:16.4

It's been a very interesting week in the market.

1:18.7

For the last few weeks, you've probably had clients or friends asking you, Peter,

1:23.0

why is the stock market not reacting to, you know, a war that is causing lots of different

1:29.4

palpitations and all different sorts of risk assets, you know what I mean, oil commodities

1:33.5

in general, but we've seen, you know, rates, we've seen the dollar, we've seen a whole host

1:39.0

of other things moving other than the stock market.

1:41.8

So we're going to hit that.

...

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