The David Lin Report 9% Inflation For 10 Years, Bond Crisis; The Assets That Win Or Break Revealed | Clem Chambers
Apr 29, 2026
Clem Chambers, founder of ANewFN and macro/commentary specialist, warns of a looming bond crisis and predicts prolonged 7–9% inflation tied to an AI-driven industrial build-out. He links gold to geopolitical risk, highlights energy, copper and nuclear as structural winners, and spots bargain tech and infrastructure plays amid market disruption.
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Pension Funds Levered To The Moon In The Gilt Episode
- Clem recounts how institutions borrowed against falling bond yields and levered into UK gilts, creating a vicious cycle until rates moved against them.
- That leverage forced margin calls and required government intervention to backstop pension funds in 2022.
How Leverage Turned The UK Gilt Move Into A Crisis
- Bond-market leverage can explode when institutions borrow against perceived falling yields, creating margin calls when rates reverse.
- Clem explains the 2022 UK gilt crisis where levered pension funds faced margin calls after rate shifts.
Monetizing Debt Lowers Yields But Fuels Inflation
- Governments can suppress bond yields via monetization (QE), but doing so risks fueling inflation if done excessively.
- Clem highlights Japan as an example and warns monetization converts illiquid liabilities into cash that raises prices.