Sam Goldfarb
speaker
80 appearances
5 recordings
2 series
first heard Jan 2026
last heard 18 Aug
Sam Goldfarb’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Aug 2026 with 1.
Appearances
It's almost like the bond market is normalizing to this pre-financial crisis world where interest rates are higher for longer.
It's a little bit of a mystery and probably like ten different factors and that just add up to people not wanting to buy bonds and then they don't want to buy bonds because other people aren't buying bonds.
One factor that people have talked about is potentially pushing yields higher is just like there's large US deficits.
That means the US government has to issue lots of bonds.
And if there's a lot of bonds that can push down prices of bonds and push yields higher.
But then US Treasuries are not the only highly rated bonds out there.
Corporate bonds add to that supply problem.
And so when companies like Alphabet and Meta are issuing $25 billion bonds at a time, the investors that buy treasuries are also the same investors that buy those bonds.
And so they're getting a little bit overwhelmed potentially.
If you take a step back, what might be happening is
is that interest rates don't look like they're going lower.
And so it's almost like the bond market is normalizing to this pre financial crisis world where interest rates are higher for longer.
This just means higher borrowing costs for everybody.
It means higher borrowing costs for the US government.
It means higher rates on corporate bonds.
It means higher mortgage rates.
The good news is that because this has been sort of a slow, gradual climb in yields, it hasn't really spread to other assets like stocks, a sharp increase in borrowing costs could upend the stock market.
That hasn't really happened.
But if we continue to
see yields just sort of continuing to grind higher, may maybe that could change and and stocks could be affected as well.
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