What does Fed chair selection mean for markets? Did bond market react to this or stronger economic data?
speaker1
speaker2
Fed chair selection makes big difference. Scott Bessent's 'Gain of Function Fed' article argues Fed overstimulated during COVID and laid groundwork for less interventionist Fed - we're having a paradigm shift.
Is that why yields are rising? What should impact be if this comes to pass?
speaker1
speaker2
Administration would give itself A for performance last year because 10-year came from 4.8% peak down to 4.14%. They're graded on 10-year or 30-year, not short-term rates.
How much is dollar debasement trade factoring into investment thinking? US dollar weakening, yen weakening, euro strengthening.
speaker3
speaker2
Don't feel strongly about dollar this year. US economic growth looks really good - 2%, 3%, maybe 4%. If economic growth is good, that's not super weak for dollar.
speaker2
We love gold for many years. Every time US does something crazy, rest of world wants more gold.
Do you harvest gains in metals or see it as new floor for prices?
speaker1
speaker2
We have been selling gold over last six months because it's such big holding. It could go sideways for a year.
speaker2
Rare earth ETF flying this year - sign world is fragmenting. Called nuclear nosebleed levels 3-4 months ago, now at nosebleed levels.