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Basis Trade Blowing Up: Could Usher In GFC 2.0 | Lance Roberts & Adam Taggart episode artwork

EPISODE · Apr 12, 2025 · 1H 54M

Basis Trade Blowing Up: Could Usher In GFC 2.0 | Lance Roberts & Adam Taggart

from Thoughtful Money with Adam Taggart · host Adam Taggart | Thoughtful Money

The swift spike in US Treasury yields has caught some of America's largest hedge funds by surprise, and the severe losses they're suffering are suddenly threatening to spill over into the banking system.These "basis trade" players are highly levered in what they considered very safe, very predictable assets.But bond yields jumped so quickly in response to the Trump tariff tempest, that losses -- highly levered ones -- ensued. Now these firms risk defaulting on the banks that provided the leverage for these trades.Could these create another credit system crisis like 2008?It's possible, warns portfolio manager Lance Roberts. It by no means inevitable, but the risk is worth watching very closely.As a result, Lance's firm has reduced its equity exposure and pulled in the duration of its bond sleeve.Lance shares all the details in this week's Market Recap.WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

What this episode covers

The swift spike in US Treasury yields has caught some of America's largest hedge funds by surprise, and the severe losses they're suffering are suddenly threatening to spill over into the banking system.These "basis trade" players are highly levered in what they considered very safe, very predictable assets.But bond yields jumped so quickly in response to the Trump tariff tempest, that losses -- highly levered ones -- ensued. Now these firms risk defaulting on the banks that provided the leverage for these trades.Could these create another credit system crisis like 2008?It's possible, warns portfolio manager Lance Roberts. It by no means inevitable, but the risk is worth watching very closely.As a result, Lance's firm has reduced its equity exposure and pulled in the duration of its bond sleeve.Lance shares all the details in this week's Market Recap.WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

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Basis Trade Blowing Up: Could Usher In GFC 2.0 | Lance Roberts & Adam Taggart

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How long is this episode of Thoughtful Money with Adam Taggart?

This episode is 1 hour and 54 minutes long.

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This episode was published on April 12, 2025.

What is this episode about?

The swift spike in US Treasury yields has caught some of America's largest hedge funds by surprise, and the severe losses they're suffering are suddenly threatening to spill over into the banking system.These "basis trade" players are highly levered...

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