EPISODE · Oct 3, 2023 · 1H 37M
The Great Bond Bear Steepening | Alfonso Peccatiello
from Forward Guidance · host Blockworks
On todays episode of Forward Guidance, Alfonso Peccatiello Founder & CEO of The Macro Compass joins the show for a discussion on the U.S bond market sell-off and it implications for broader markets, both domestically & internationally. Weighing sentiment, risk/reward & economic signals, Alfonso assesses if the current sell-off is justified, or is the trend about to reverse and provide an attractive opportunity to go long bonds? To hear all this & much much more, you'll have to tune in! -- Sign up to The Macro Compass bond course & use the code "Macro20" for a 20% discount: https://www.themacrocompass.com/courses/#bond-market-course -- Follow Alfonso on Twitter: https://twitter.com/MacroAlf Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ -- Timecodes: (00:00) Introduction (00:32) The Bond Market Sell-Off (11:38) Testing Bond Market Sentiment (21:16) What Could Go Wrong Being Long Bonds? (27:37) Bond Market Term Premium (35:05) The Best Risk/Reward Is Short Equities (38:36) The Real Weakness Is In Europe (46:28) The Dollar Wrecking Ball (51:00) Understanding The Yield Curve: Bear Steepening (54:58) Supply & Demand In The U.S Bond Market (58:46) Bank Bond Buying & Interest Rate Hedging (01:17:40) Bear Steepening During An Inverted Yield Curve (01:23:16) Will Bonds Continue Selling Off Until Something Breaks? (01:28:47) Are European Banks More Resilient Than U.S Banks, Or Not? (01:35:00) The Macro Compass Bond Market Class & 20% Discount -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets
What this episode covers
On todays episode of Forward Guidance, Alfonso Peccatiello Founder & CEO of The Macro Compass joins the show for a discussion on the U.S bond market sell-off and it implications for broader markets, both domestically & internationally. Weighing sentiment, risk/reward & economic signals, Alfonso assesses if the current sell-off is justified, or is the trend about to reverse and provide an attractive opportunity to go long bonds? To hear all this & much much more, you'll have to tune in! -- Sign up to The Macro Compass bond course & use the code "Macro20" for a 20% discount: https://www.themacrocompass.com/courses/#bond-market-course -- Follow Alfonso on Twitter: https://twitter.com/MacroAlf Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ -- Timecodes: (00:00) Introduction (00:32) The Bond Market Sell-Off (11:38) Testing Bond Market Sentiment (21:16) What Could Go Wrong Being Long Bonds? (27:37) Bond Market Term Premium (35:05) The Best Risk/Reward Is Short Equities (38:36) The Real Weakness Is In Europe (46:28) The Dollar Wrecking Ball (51:00) Understanding The Yield Curve: Bear Steepening (54:58) Supply & Demand In The U.S Bond Market (58:46) Bank Bond Buying & Interest Rate Hedging (01:17:40) Bear Steepening During An Inverted Yield Curve (01:23:16) Will Bonds Continue Selling Off Until Something Breaks? (01:28:47) Are European Banks More Resilient Than U.S Banks, Or Not? (01:35:00) The Macro Compass Bond Market Class & 20% Discount -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets
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The Great Bond Bear Steepening | Alfonso Peccatiello
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