Top Traders Unplugged

SI350: Why All Roads Lead to Higher Yields ft. Alan Dunne

18 snips
May 31, 2025
Guest
Alan Dunne
Alan Dunne, an investment professional and insightful writer, joins the conversation to unravel the complexities of today's bond markets. He argues that we're already in a new era of structurally higher yields, driven by high debt levels and evolving economic policies. Dunne highlights how complacency among investors may blind them to the risks of outdated models. The discussion spans Japan's bond signals to America's fiscal discipline, pushing listeners to rethink their strategies in an ever-changing financial landscape.
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INSIGHT

Rising Yields as New Regime

  • Debt levels have dramatically increased over decades, yet bond markets show surprising resilience.
  • Central banks may lose control, leading to structurally higher yields becoming the new normal.
INSIGHT

AI's Massive Energy Demand

  • Massive AI data centers consume energy comparable to hundreds of thousands of homes.
  • This raises challenges for efforts to decarbonize while AI expands its role in the economy.
ADVICE

Adopt Scenario-Based Investing

  • Use scenario-based portfolio construction instead of relying solely on historical averages.
  • Build portfolios by weighting different macro scenarios to improve robustness and diversify risk.
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