John Stepek

speaker

2,659 appearances 29 recordings 1 series first heard Apr 2026 last heard today

John Stepek’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 29 in all, peaking in Jul 2026 with 7.

Appearances

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Merryn Talks Money · Markets Wrap: Bessent's Big Bet, Bond Yields and the AI Bubble · 11 Sep 2026 podcast

Um but so Simon, this week's chat I wanted us to get into a few of the big topics this week. voice-verified

Uh first I think we'll have a wee chat about Scott Besson, the US Treasury Secretary, um, and what he's been doing. voice-verified

Um and then I think really the biggest story of the week is bond yields and what's been happening with them globally, but particularly in the UK. voice-verified

And if we get two minutes we can maybe touch on AI at the end because uh voice-verified

A load of people at Anthropic and OpenAI have been saying that it's gonna murder us all in our sleep or something along those lines. voice-verified

But let's start with Scott Presson. voice-verified

So this week he kind of came out and said eros he said, I am the house. voice-verified

And kind of challenge the the market to bet against him um in the various things that he's trying to do. voice-verified

So do you mind talk us through what he's actually doing and whether he's actually having any success at it? voice-verified

Well, thanks for the intro. voice-verified

He's basic he's basically saying that I'll I've got insider knowledge and you guys are are gonna lose. voice-verified

Um i it does seem quite uh a gutsy thing to set himself up as a target in that way, but presumably he voice-verified

Well voice-verified

so what they're doing is they're buying back US Treasury bonds out at what's called the long end. voice-verified

So like thirty years basically, isn't it? voice-verified

Yeah. voice-verified

So basically the the backdrop has changed and that's pushed up the yields. voice-verified

But the the bit that Besson technically wants to target, which is the perceived riskiness of the US Treasury, yeah, that's actually worked, but he's still in trouble because voice-verified

Yeah, he is kind of between a rock and a hard place from that point of view, which I guess means the the easy, obvious thing for him to do would just be do what he thinks you should do. voice-verified

But um but I guess it's easier said than done. voice-verified

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