Episode Details

Rob Pizzichetta explains the global bond sell-off as long-term government yields hit multi-decade highs across the US, UK, Europe, Japan, and Australia, noting rising yields mean falling bond prices and higher borrowing costs throughout the economy. He outlines three drivers: cyclical geopolitical inflation pressure from renewed US–Iran tensions pushing oil above $90; mid-range uncertainty as markets adjust to a new Fed chairman, Kevin Warsh, and less predictable central-bank guidance; and a largely structural shift driven by expanding US and Australian deficits, higher refinancing costs, a shrinking base of price-insensitive bond buyers, and massive AI-related corporate bond issuance competing with governments for capital. He also discusses US Treasury buybacks and concerns about potential “financial repression,” then links higher yields to mortgage rates, fixed-income duration risk, retirement income diversification, and equity valuation pressure, concluding long-term rates are likely “higher for longer.”

00:00 Debt Hits New Highs

01:17 Global Bond Selloff Explained

02:49 Why Yields Rising

03:00 Geopolitics Oil Inflation

03:45 Fed Uncertainty Premium

04:19 Debt Deficits AI Borrowing

07:36 Treasury Buybacks Repression

08:59 What It Means Investors

10:40 Cyclical vs Structural Wrap

11:08 Final Thanks Subscribe