Well, this is Current Yield Grants Interest Rate Observer of the Air.

I am Jim Grant, and with me, as always, is the great deputy editor of grants, Evan Lorenz,

and Henry French is at the control panel.

And with us today is our guest, is Shazad Kazi, who was managing

director of China Bejibook. And we're going to be talking about, I don't know, talking about

the Great Wall, right, and the People's Bank of China, which had a visitor this week.

The first in at least a decade. Yeah. But before, before we get down to that kind of business, Evan, what do you make of the fact that

the United States is now a kind of a high yielding sovereign in the world out yielding the

likes of, oh, Greece, Portugal, and many emerging markets?

Higher is better, right? So America's number one.

As always. I don't think Donald Trump would have any other way.

It is a curious thing that the problem children from Europe's last crisis a decade ago

all have bond yields below the U.S. government, despite the U.S. government having a much higher bond

rating,

the Grand Canyon, as you pointed out, the world's largest military, and so many other resources.

Yeah, I'm not sure it's a mystery exactly, but it is a, it's a seeming paradox.

Perhaps it is a paradox.

You know, I remember so well when Greece was going to go back to what, to Plato.

It was going back to the pre-financial, pre-industrial, and pre-agricultural ages of antiquity.

And now look at it.

It's the new bounding triple B on the way up credit. The most amazing thing to me is Bloomberg puts together different bond indexes.

They had bought the, what is it, the Barclays aggregate bond index group a couple years ago.

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