In this insightful discussion, Jim Bianco, President and Macro Strategist at Bianco Research, dives into the implications of rising bond yields amidst U.S. tariffs on the EU. He highlights how these tariffs affect inflation and consumer prices, potentially influencing Federal Reserve policies. Bianco also explores the shifting landscape of investment strategies in a higher interest rate environment, emphasizing the growing role of retail investors and the importance of diversification. Finally, he addresses the need to align investments with personal goals while navigating the turbulent market dynamics.
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insights INSIGHT
5% Yields Are Normal Now
5% bond yields are not unusually high but rather what we should expect now.
Yields will rise further if federal deficits increase substantially.
insights INSIGHT
Tariffs and Economy's Growth
The U.S. economy's natural state is growth; recessions come from shocks.
Current tariffs may cause inflation but likely won't induce a recession yet.
insights INSIGHT
Tariffs Sustaining Inflation Insight
Tariffs can be a one-time price shock or repeated, sustaining inflation.
Fed won't cut rates soon as inflation and prices remain a core concern.
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Written by Benjamin Graham, 'The Intelligent Investor' is a seminal work on value investing that has inspired millions since its original publication in 1949. The book emphasizes the importance of distinguishing between investing and speculation, calculating the intrinsic value of companies, and maintaining a margin of safety. The revised edition includes updated commentary by Jason Zweig, who provides modern examples and insights to help readers apply Graham's principles in today's market. Warren Buffett, a disciple of Graham, has praised the book as 'the best book about investing ever written'.
A history of interest rates
Sidney Homer
This book presents a comprehensive analysis of interest rates from ancient times to the modern era. Despite the limited data before the Industrial Revolution, the authors offer a highly detailed examination of money markets and borrowing practices in major economies. The book asserts that free market long-term interest rates serve as a 'fever chart' of a nation's economic and political health, highlighting the significant volatility of rates in the 20th century and its implications for understanding economic and political excesses.
Thoughtful Money with Adam Taggart 
