How many bears does it take to change a lightbulb? None, it will never happen. Join us today as we debrief reporter Jenn Hughes, recently back from a conference hosted by the biggest bear of them all, Jim Grant, longtime editor-in-chief of Grant’s Interest Rate Observer. The cautious conferees had one thing on their minds: the explosion in government debt. One solution: yield curve control. Also, we go long cats, and short chewing tape. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferFollow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X, formerly Twitter. You can email Ethan at [email protected] a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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“What did the council decide on item 42?” — answered with the speaker and the moment.