Talking Data

Jim Bianco, President of Bianco Research Advisors, explains the index behind the WisdomTree Bianco Total Return Fund (WTBN) and offers perspective on interest rates and credit risk.

Join us in this interview with Jim Bianco, Bianco Research, where we dive into critical economic topics shaping 2024. In a sit down with Jeremy Szafron, Anchor at Kitco News, Bianco offers expert insights on inflation trends, housing market discrepancies, bond market shifts, and Bitcoin's turbulent journey. Don't miss his detailed analysis and predictions that could redefine your financial strategy. 00:00 - Introduction & Government vs Real Data 05:46 - Inflation Realities in 2024: Beyond the Numbers 06:14 - Housing Inflation: Gov't vs. Real Data Analysis 07:13 - Sticky Inflation and Its Impact on Rate Cuts 08:09 - Bond Market: Facing the Worst Returns Since Civil War 14:16 - Bitcoin ETFs and Market Dynamics 16:11 - Bitcoin Price Prediction: Potential Drop to $30K-$20K 21:51 - Red Sea Shipping Crisis and Its Implications on Global Inflation

Timestamps: 0:00 View on Inflation 7:57 The Solution to Federal Government Spending 11:20 Stock-Pickers Market/Opportunities in a Rising Rates Environment 17:01 Best Idea for 2024 Coming together for Round Table Prime are DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their guests James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, CEO of Quill Intelligence; Charles Payne, author and Fox Business Anchor; and David Rosenberg, President of economic consulting firm Rosenberg Research & Associates. Round Table Prime was held Jan. 11, 2024.

Jim's Comment: 6:28 Best Idea for 2024 Participants in DoubleLine Round Table Prime 2024 share their best trading and investment ideas for 2024. Coming together for Round Table Prime are DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their guests James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, CEO of Quill Intelligence; Charles Payne, author and Fox Business Anchor; and David Rosenberg, President of economic consulting firm Rosenberg Research & Associates. Round Table Prime was held Jan. 11, 2024.

Jim's Comment: 5:02 Stock-Pickers Market/Opportunities in a Rising Rates Environment During the markets segment of its 2024 edition, participants in DoubleLine Round Table Prime present their outlooks on various markets and topics for 2024. Coming together for Round Table Prime are DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their guests James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, CEO of Quill Intelligence; Charles Payne, author and Fox Business Anchor; and David Rosenberg, President of economic consulting firm Rosenberg Research & Associates. Round Table Prime was held Jan. 11, 2024. (00:29) Charles Payne discusses the state of the IPO pipeline heading into 2024 and how that pipeline has punished investors for 15, 20 years. He also shares his Word of the Year for stock investors: nimble. (5:06) Jim Bianco says the art of stock picking is very much alive, breaks down “a multi-year bear market in bonds,” talks the resilience of the U.S. dollar as a reserve currency, and discusses China’s slow recovery and its impact on commodities. (10:44) Jeffrey Gundlach looks at valuations and price-to-earnings since the November start of the Everything Rally then talks about how a secular shift from a long period of declining interest rates to a period of rising interest rates will impact participants’ and prognosticators’ understanding of the markets. He also discusses the potential economic backdrop that would have him looking at EM and lower tiers of credit, and he shares why he has put money in India and doesn’t even look at it. He closes with his thoughts on mortgage spreads, high yield bond defaults and TIPS. (25:18) David Rosenberg talks about how the CPI is a flawed statistic, the S&P 500’s flat two-year performance with no improvement in valuations, how there’s so much psychology involved in the stock market, the equity risk premium, and how the soft landing is real and how historically it has served as a precursor to contraction. He also shares his thoughts on positioning and the outlook for several countries, including Japan and Canada. (42:08) The markets section concludes with Danielle DiMartino Booth discussing private markets juxtaposed against public markets and the impact of public pension funds flowing into private equity a few years ago, and speculating on who will be living in Illinois if Indiana gets rid of its state income tax.

Jim's Timestamps: 27:28 Jim's view on Inflation. 1:06:26 The solution to Federal Government Spending. During the macroeconomic segment of its 2024 edition, participants in DoubleLine Round Table Prime among other issues debate the seeming failure of the most telegraphed recession in history to materialize in 2023, the intersection of Federal Reserve policy with a presidential election year and deep changes in the economy post-2020. Coming together for Round Table Prime are DoubleLine CEO Jeffrey Gundlach and moderator DoubleLine Deputy Chief Investment Officer Jeffrey Sherman with their guests James Bianco, President and Macro Strategist at Bianco Research; Danielle DiMartino Booth, CEO of Quill Intelligence; Charles Payne, author and Fox Business Anchor; and David Rosenberg, President of economic consulting firm Rosenberg Research & Associates. Round Table Prime was held Jan. 11, 2024. Topics include: (1:08) How the U.S. avoided recession despite numerous recessionary indicators and evidence the U.S. economy is far more downbeat than some widely followed economic statistics would indicate. (10:57) The condition of consumer and household financial conditions and the rapid rise of consumer borrowing delinquencies. (15:50) Possible factors behind the protracted length of the current cycle, including money supply as measured by M2, and as Charles Payne points out (27:58), the velocity of money. (30:45) Post-2020 transformations of the economy, the biggest, Jim Bianco notes, being remote work and acceleration of deglobalization, with important implications for inflation. (35:52) Federal Reserve monetary policy, including Fed Chair Jerome H. Powell’s dovish pivot Dec. 13, which Danielle DiMartino Booth thinks was timed “to get in front of the Iowa caucuses.” (45:50) The probability of recession in 2024. (50:11) Jeffrey Gundlach’s warning about the combination of the federal government running large deficits (even amid low unemployment), funded by debt, amid rising interest rates, and his outlook on the inevitability of a restructuring of the federal debt and the unfunded liabilities of American entitlement programs.

Rumors are suddenly flying fast and furious that the Federal Reserve will be soon ending its campaign of Quantitiave Tightening (aka QT). This is on top of the 3 rate cuts it recently guided the market to expect in 2024. Is the end of QT indeed imminent? If so what will the implications be? To discuss that, as well as the other major macro trends expected to impact markets most in 2024, we're fortunate to sit down with analyst Jim Bianco, founder of Bianco Research. Jim thinks the Fed is now scrambling to cut rates and end QT because of the brewing potential for a liquidity crisis once the Reverse Repo Program is fully drained. Follow Jim at https://www.biancoresearch.com/ Or on X/Twitter at @BiancoResearch And check out his new ETF, ticker: WTBN

Jim Bianco joins Fox Business to discuss Soft Landing vs No Landing, Interest Rates, the Impact of Geopolitical Conflicts on Markets & Rethinking Economic Data with Charles Payne.

Jim Bianco, president of Bianco Research, returns to The Julia La Roche to share his macroeconomic outlook, his call for 5.5% on the 10-year Treasury, impact on the stock market, inflation, the US debt situation, and the approval of a Bitcoin spot ETF. Links: BiancoResearch.com BiancoAdvisors.com twitter.com/BiancoResearch Timestamps 00:00 Introduction and macro outlook 03:07 Call for 5.5% 10-year Treasury and impact on the stock market 6:12 The pathway to 5.5% 8:08 The Fed's response to inflation 11:26 Soft Landing vs. No Landing 15:40 Implications of 5.5% on the 10-year 21:40 Why can’t we get to 2%? 28:38 Biggest worry with 5.5% on the 10-year 31:16 US debt crosses $34T 36:35 Bitcoin Spot ETF 44:40 Closing remarks 46:50 Consensus forecasts have been wrong

In this eye-opening episode of Wealthion, host James Connor sits down with Jim Bianco, President and Macro Strategist of Bianco Research (@BiancoResearch) for an insightful discussion on the 2024 economic outlook. Bianco shares his bold predictions and the rationale behind them. From the movement of the 10-year bond to an astonishing 160% rise in Bitcoin, Bianco’s views are not only thought-provoking but also potentially game-changing for investors. TIMESTAMPS: 00:00 - Introduction 03:16 - Bond Market Insights 07:17 - Inflation and Economy 09:43 - Remote Work Impact 21:37 - Fed's Inflation Theory 28:44 - Interest Rates Discussion 29:32 - Fed Rate Cuts Forecast 34:30 - November Bond Surge 37:56 - Stock Market Outlook 38:29 - Bitcoin and Cryptocurrencies