The Fed's "72D Chess" Playbook

A hedge fund nearly blew up in a single week—not because of a bad bet, but because of leverage. And that's a problem the US government knows well. This week, Jared Dillian joins Ed D'Agostino to unpack what higher rates mean for America's debt, Japan, and the yen; why he's still one of the last bond bulls standing; and why he thinks the real tech bear market begins the day OpenAI files its S-1. Plus, Jared's new book, The Awesome Portfolio—a smarter, lower-stress way to save for retirement.