Bond bust, new wealth tax, and state of the unions 3/28/22

It’s been an ugly quarter for bonds, as the 5-year and 30-year yields have inverted for the first time since 2006. What is the bond market telling us? What do they – and don’t they – know? We’ll take a hard look at how investors should react here. Plus, President Biden just unveiled his $6 trillion budget plan, including a new 20% minimum tax on households worth $100 million+. But can it actually pass? We’ll debate. And, if workers have so much leverage right now, why is unionization seeing such a big resurgence? We’ll explore all the angles of this labor market conundrum. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.