
Disrespecting the Tail (guest: Dean Curnutt)
The Market Huddle
00:00
What Is the Market Position for YENVAL?
Low rates were the enabler of those low rates to be able to get that capital at such low rates. The risk bearing capacity of these markets is what I'm being told, is really getting to a point where it's at a limit. And so when you talk about a buyer strike in even US government bonds, it sounds like the sky is falling type of stuff. But we have to be humble about what we've learned about asset prices which they can turn on you on a dime and you just don't know when.
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