Surveillance: Earnings Story with Wilson
Bloomberg Surveillance
00:00
Is the Real Yield a Good Thing?
Bob Michael of JPMorgan Asset Management says fixed income has been nowhere to hide this year. The real yield is the world's discount rate, and when it goes up all asset prices have to come down. Mike: As spreads need to get somewhere close to 750 basis points, the treasury needs to get somewhere near 4.5%, but Fed funds could push 5%.
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