The Prof G Pod with Scott Galloway
Prof G Markets: Ozempic’s Market Impacts and Surging Bond Yields — with Downtown Josh Brown
Oct 9, 2023
Downtown Josh Brown, CEO of Ritholtz Wealth, joins to unravel the recent surge in bond yields and its implications for investors. They discuss how Ozempic’s rising popularity could disrupt markets, particularly the fast food and alcohol industries, reshaping consumer behaviors. The duo also delves into investment strategies focused on struggling companies and critiques AI company valuations amidst evolving market dynamics. With humor and insight, they tackle the complexities of navigating today’s financial landscape.
54:47
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Quick takeaways
- Rising bond yields could pose a threat to industries such as fast food as weight loss drugs reduce demand for unhealthy products.
- The demand for weight loss drugs like Ozempic is expected to grow, potentially leading to a decline in the fast food industry as obesity rates decrease.
Deep dives
High bond yields threaten fast food industry and other sectors
Bond yields have surged, indicating a sell-off in long-term US debt. This rise in yields comes as economic data shows growth in the job market and GDP, and the Federal Reserve signals higher interest rates to combat inflation. Analysts suggest that these rising yields could pose a threat to industries such as fast food, as weight loss drugs like Ozempic reduce demand for unhealthy products. Credit defaults swaps on major companies like McDonald's and Pepsi are being recommended as a way to protect against this potential risk.
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