4min chapter

The Macro Trading Floor cover image

Debt, Demographics & Deflation Ahead | Raoul Pal

The Macro Trading Floor

CHAPTER

Bond Yields Should Be a Relatively Good Trade

Alfred: Terminal rate expectations are about 5%. The Fed are probably going to make it clear. You can buy Fed funds pretty much at the terminal rate. So I think that if we're going to see the rate of change come plus the declining growth, plus the decline in inflation, then bond yields should be a relatively good trade. If you want to take a different bet, which would play into the discussion we had, maybe you want to buy something to do with energy or copper.

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