It's Crunch Time For Bonds | Bill Fleckenstein

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It's "crunch time" for the bond market.

So says seasoned investor Bill Fleckenstein, given that bond yields have risen so far so quickly that the US Treasury is now stepping in to contain the long end of the curve.

What does he think is most likely to happen next for the markets?

And which assets is he sitting in right now in preparation?

To find out the answers to these important questions & more, watch this video.

#bonds #bondyields #marketcorrection

0:00 – Welcome and introduction to Bill Fleckenstein
2:18 – Bond market starting to take the printing press away from the Fed
3:07 – Bessent’s plan to buy long-term Treasuries with short-term debt
4:09 – Why major macro shifts can take years to fully materialize
5:10 – Bond market has not sanctioned two years of Fed rate cuts
7:17 – Primary drivers behind rising bond yields
9:05 – Why AI hyperscaler debt is not high-quality paper
10:18 – Supply pressures, future inflation fears, and debt sustainability
14:15 – Will the Fed’s next move be a hike or a cut?
15:16 – Practical limits on how much the Fed can actually raise rates
16:41 – Decades of Fed policy enabling government overspending
19:00 – The accelerating U.S. national debt trajectory
24:04 – Outlook for the U.S. dollar versus other currencies
25:53 – Is gold in a secular ascendancy?
26:21 – Gold versus Treasuries as the preferred safe haven in a crisis
29:16 – Why policymakers will ultimately choose the bailout path
31:11 – Competence in a financial crisis: current vs. alternative administrations
35:46 – Assessing the risks in private credit
36:22 – Private-equity ownership of insurance companies and potential abuses
41:25 – Mike Green and the growing risks in the passive capital bid
44:18 – Skepticism on the return on investment from massive AI spending
47:51 – Ed Zitron’s critical research on AI
51:15 – Competitive threat from low-cost Chinese AI models
56:41 – Fleckenstein’s current investment game plan and positioning
58:40 – How he would adjust allocations if a major dislocation begins
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