Fed meeting, we discussed her legacy and the incoming fed chair jay powell. We start with the big issue, dalios warning resonating from davos to new york. Take a listen. Ray a 1 rise in bond yields will produce the largest bear market in bonds that weve seen since the 19801981 period. Has that bear market started . Are we in it . Ray i think were in it. There will be a time the bank of japan and ecb begin tightening. That will be the time when bond yields increase. I dont see that now, unless im wrong on inflation. I dont believe the Federal Reserve will get the 10 year to 3. 60 . I dont think the bear market is starting. Since 1990 we had many, many predictions of a bear market in bonds, but it has not happened. Lisa joining me in new york is Subadra Rajappa, and rachel and coming to us from london is Luke Hickmore. Alright, so i want to start with you, subadra. The big question is, has the selloff in benchmarks just begun, for is this the extent of it and will people pile back in . S
We start with the big issue, dalios warning resonating from davos to new york. Take a listen. Ray a 1 rise in bond yields will produce the largest bear market in bonds that weve seen since the 19801981 period. Has that bear market started . Are we in it . Ray i think were in it. There will be a time the bank of japan and ecb begin tightening. That will be a time when they arbitrage narrows and maybe when bond yields increase. I dont see that now, unless im wrong on inflation. And i dont believe the Federal Reserve will get to the four tightenings they suggested, that will get the 10 year to 3. 6 . I dont think the bear market is starting. Since 1990 we had many, many predictions of a bear market in bonds, but it has not happened. Lisa joining the around the table in a new york is Subadra Rajappa, and Rachel Golder, and coming to us from london is Luke Hickmore. Alright, so i want to start with you, subadra. The big question here is has the selloff in benchmarks just begun, or is this t