Asks about economic data uncertainty post-shutdown and Fed policy outlook
Haslinda Amin
Jim Bianco
Government data disruption will continue for weeks, but private sector data shows economy is okay, not great, with stickier inflation than Fed would like
Questions Fed rate cut expectations given market pricing and labor market easing
Haslinda Amin
Jim Bianco
Fed is fracturing into different groups with multiple dissents likely, creating policy uncertainty
Asks about implications of Fed cutting rates backfiring on economy
Haslinda Amin
Jim Bianco
Fed rate cuts could lead to higher long-term rates if market perceives it as inflationary stimulus, hurting housing market
Asks specifically about yield direction given recent increases
Haslinda Amin
Jim Bianco
We're in a long-term secular rise in interest rates that started in 2020, with yields likely to move higher once we break out of current sideways trend
Questions whether era of lower returns is coming and how to adjust expectations
Haslinda Amin
Jim Bianco
Era of lower but not low returns coming, with cash returning 4%, bonds 5%, and stocks around 6% excluding AI
Asks about risks to this projection including inflation and tariffs
Haslinda Amin
Jim Bianco
Most realistic risk is stickier to higher inflation keeping interest rates up, which would impact non-AI businesses significantly
Asks about portfolio allocation and gold's role given uncertainties
Haslinda Amin
Jim Bianco
Gold should play a role as hedge against inflation, political strife, or other risks in uncertain environment
Questions dollar resilience and whether it will continue
Haslinda Amin
Jim Bianco
Dollar recoupled with interest rates and will stay stronger if US rates trend higher
Asks about AI market momentum and retail investor dominance
Haslinda Amin
Jim Bianco
Retail investors driving market with aggressive buying, but AI faces risks from electricity costs and infrastructure demands