Lyn Alden on Gold, Real Bond Yields, and the Treasury s Bloated War Chest

Senior editor, Ash Bennington, joins Thomas Thornton, founder of Hedge Fund Telemetry, to discuss earnings, stimulus intervention, and investment time horizons. Thornton talks about how, despite stronger Q3 earnings, Q4 could demonstrate a pullback and whether the upcoming U.S. election could serve as a catalyst either to upside or downside. He also shares his thoughts on stimulus intervention and the hazards of MMT as well as on how he thinks about managing positions and time horizons. Thornton and Bennington also touch on the energy and financials sectors and how the election outcome could affect these sectors. Thornton also describes how he analyzes different sectors through technical indicators and how technicals enhance the way he invests. Real Vision reporter Haley Draznin breaks down the markets reaction as lawmakers continue efforts to reach a spending bill and weighs in on the Fed’s cautious approach to possibly issuing digital currency. Learn more about your ad choices. Visit podcastchoices.com/adchoices

20 Loka 202035min

Senior editor, Ash Bennington, is joined by managing editor, Ed Harrison, to interpret how the rising COVID-19 infections in Europe and the U.S. will impact markets. Ed conducts a deep dive on best practices for containing the virus while mitigating the economic damage, reviewing protocols in Norway, Sweden, Belgium, and New Zealand, and Ash looks at how China’s remarkable GDP growth could be related to its own containment strategy. Ed gives a sneak peek of his upcoming interview with legendary value investor Joel Greenblatt while Ash tells viewers about Real Vision CEO Raoul Pal’s surprise update on Bitcoin and central bank digital currencies (CBDCs). Lastly, Ed and Ash discuss signs of stress emanating from the New York commercial real estate market. In the intro, editor Jack Farley gives a snapshot of today’s price action and looks at NASDAQ futures contracts and Royal Caribbean Cruises’ recent convertible bond deal. Learn more about your ad choices. Visit podcastchoices.com/adchoices

19 Loka 202036min

Everyone knows Jeremy Grantham as the face of GMO, the behemoth money manager that has become legendary for its work on asset allocation, but Ben Inker, head of asset allocation at GMO since 1998, seems to be next in line for the throne. In this interview with Ed Harrison, Inker helps viewers make sense of the post-COVID investment landscape from the perspective of a major asset allocator. Together they discuss everything from the future of the 60/40 portfolio to bonds as an asset class in this new low rate world. They also dig in to US vs. non-US assets, the trouble with popular ex-post facto explanations for FAANG outperformance and narrative bubbles like Tesla, and why the financial sector can be so difficult to value. Filmed on September 21, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

18 Loka 20201h 7min

Alex Saunders, CEO and founder of Nugget's News, joins Real Vision CEO, Raoul Pal, to explain the reinvention of the monetary system through new crypto payments systems based on Bitcoin, Ethereum, and stable coins. He tells Raoul the story of his introduction into the crypto world. Saunders also breaks down the expansion of global e-commerce through the explosive growth of decentralized finance. Filmed on September 15, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

17 Loka 20201h 10min

Senior editor, Ash Bennington, and managing editor, Ed Harrison, look forward to the relevant themes. Ed adds to David Rosenberg’s recent comments that “organically, the economy is still in recession,” and he and Ash reflect on (the? a bit awk) recent success of Sweden’s pandemic shutdown response. They then put a week of bank earnings into context and analyze Warren Buffett selling the bulk of Berkshire Hathaway’s holdings in Wells Fargo. In the intro, Ash speaks to Real Vision editor, Jack Farley, about “priming” in the markets for distressed debt. For reference, the video Ed discusses at the beginning can be found here: https://exchange.realvision.com/post/the-breakdown-what-all-financial-crises-have-in-common-5f89ad21d788a45104be209e. Visit realvision.com to get access for just $1 for months access. Learn more about your ad choices. Visit podcastchoices.com/adchoices

16 Loka 202037min

Managing editors Ed Harrison and Roger Hirst analyze a choppy day of global market action. They look at European equities as well as currency swings in the Euro and the Australian dollar. Roger looks at gold, and Ed analyzes the effect of narrowing net interest margins on bank earnings and yield curves. They also discuss central banks’ role in facilitating fiscal stimulus as well as global debt levels and zombification. In the intro, Haley Draznin analyzes price action, Morgan Stanley’s earnings, and the re-emergence of COVID-19 lockdowns in Europe. Learn more about your ad choices. Visit podcastchoices.com/adchoices

15 Loka 202035min

|Credit Markets| IPOs | Bond Issuance | Real Vision managing editor, Ed Harrison, is joined by editor, Jack Farley, to break down today’s bank earnings reports and look forward to the fate of the credit markets. Ed shares his framework for understanding the K-shaped bifurcation between investment banks relying on a flurry of IPOs and bond issuance and commercial banks who are left with spotty loans and narrowing net interest margins. Jack guides viewers through the remarkable performance of Goldman Sachs, particularly their trading division, and he also shines a light on the rising credit risks in Bank of America’s loan book. In the intro, Real Vision's Peter Cooper discusses how companies are postponing their plans to return to the office until the summer of 2021 and what the future of work arrangements may look like as remote work continues to present its pros and cons. Learn more about your ad choices. Visit podcastchoices.com/adchoices

14 Loka 202035min

Daily Briefing | JPMorgan Chase| Citigroup |Finance | Investing Real Vision senior editor Ash Bennington welcomes Tony Greer of TG Macro back to the Daily Briefing to make sense of big moves today in equities, bonds, and the dollar. Greer analyzes the latest CPI reading through the lens of the ECB’s piggy-back announcement that it too would let inflation run hot. Greer then breaks down today’s bond rally as the dollar retracement coincided with significant sector rotations in the S&P 500. Bennington and Greer then analyze the latest newsflow from Washington D.C, including the status of President Trump’s health, the progress of stimulus talks in Congress, and the outcome of the upcoming presidential election. In the intro, Ash speaks to editor Jack Farley about the latest earnings reports from U.S. banks JPMorgan Chase and Citigroup. Learn more about your ad choices. Visit podcastchoices.com/adchoices

14 Loka 202037min