The US election is over and Donald Trump has won a second term as president. Stocks have rallied on Trump's win, of course, but some of the more interesting moves have taken place in the bond market. Not only have yields on US Treasuries shot up, but expectations for volatility in the world's most important market were also shifting higher ahead of Trump's win. All of this is happening even though the Federal Reserve is widely expected to cut benchmark rates again this week. So what's driving higher yields? On this episode, we speak with Harley Bassman, managing partner at Simplify Asset Management and creator of Convexity Maven, about all the recent moves in bonds and what could be coming next. 

Read More:
Volfefe Returns to the Bond Market
The Market’s Constraint on Full Trumpism

Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.

The US election is over and Donald Trump has won a second term as president. Stocks have rallied on Trump's win, of course, but some of the more interesting moves have taken place in the bond market. Not only have yields on US Treasuries shot up, but expectations for volatility in the world's most important market were also shifting higher ahead of Trump's win. All of this is happening even though the Federal Reserve is widely expected to cut benchmark rates again this week. So what's driving higher yields? On this episode, we speak with Harley Bassman, managing partner at Simplify Asset Management and creator of <a href="https://www.convexitymaven.com/" data-destination="https://www.convexitymaven.com/">Convexity Maven</a>, about all the recent moves in bonds and what could be coming next. 
Read More: <a href="https://bloom.bg/3YAYUya">Volfefe Returns to the Bond Market</a> <a href="https://bloom.bg/3UEROYj">The Market’s Constraint on Full Trumpism</a>
Become a Bloomberg.com subscriber using our special intro offer at <a href="bloomberg.com/podcastoffer">bloomberg.com/podcastoffer.</a> You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

Harley Bassman on Trump, the Fed, and the Bond Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/660c5bb2-eb84-463f-9cc2-b2200152d099/transcript

How did China become the economic behemoth that it is today? One pivotal moment was, obviously, it's ascension into the WTO. Prior to that, the era of reform under Deng Xiaoping was obviously crucial. But obviously no single event or turning point can really tell the story. In a groundbreaking new book -- The Great Transformation: China’s Road from Revolution to Reform --  historians Odd Arne Westad and Chen Jian tell the full story of how China went from being an impoverished, highly planned communist economy to the dynamic capitalist economy it is today. We spoke with Westad, a professor at Yale, about this book, and what people get wrong about China's big opening up.

Read more:
China’s Surging LNG Imports From US Threatened by Next Trade War
Morgan Stanley, Goldman Call for Greater China Transparency

How did China become the economic behemoth that it is today? One pivotal moment was, obviously, it's ascension into the WTO. Prior to that, the era of reform under Deng Xiaoping was obviously crucial. But obviously no single event or turning point can really tell the story. In a groundbreaking new book -- The Great Transformation: China’s Road from Revolution to Reform --  historians Odd Arne Westad and Chen Jian tell the full story of how China went from being an impoverished, highly planned communist economy to the dynamic capitalist economy it is today. We spoke with Westad, a professor at Yale, about this book, and what people get wrong about China's big opening up.
Read more: <a href="https://www.bloomberg.com/news/articles/2024-11-20/china-s-surging-lng-imports-from-us-threatened-by-next-trade-war?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">China’s Surging LNG Imports From US Threatened by Next Trade War</a> <a href="https://www.bloomberg.com/news/articles/2024-11-19/morgan-stanley-goldman-ceos-call-for-greater-china-transparency?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">Morgan Stanley, Goldman Call for Greater China Transparency</a>

Odd Arne Westad on how China First Joined the Global Capitalist Economy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/41b09622-2ece-49df-81c1-b22e00ee4d86/transcript

After his victory, Donald Trump announced that Elon Musk and Vivek Ramaswamy would be leading up a new Department of Government Efficiency in order to crack down on wasteful, fraudulent spending inside the federal government. Setting aside the question of how effective this particular endeavor will be, the basic premise of cracking down on waste and going after fraudsters should generally be non-controversial. So what does fraud look like? How do companies bilk programs like Medicare and Medicaid for billions of dollars every year? And what can be done about it? On this episode, we speak with Jetson Leder-Luis, an assistant professor at the Questrom School of Business at Boston University and a faculty research fellow at the National Bureau of Economic Research. Jetson walks us through such things as ambulance fraud, identity theft, and other techniques that are used to milk the system. He also explains the tactics and strategies that the government can deploy to reduce billions in wasted spending.

Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.

After his victory, Donald Trump announced that Elon Musk and Vivek Ramaswamy would be leading up a new Department of Government Efficiency in order to crack down on wasteful, fraudulent spending inside the federal government. Setting aside the question of how effective this particular endeavor will be, the basic premise of cracking down on waste and going after fraudsters should generally be non-controversial. So what does fraud look like? How do companies bilk programs like Medicare and Medicaid for billions of dollars every year? And what can be done about it? On this episode, we speak with Jetson Leder-Luis, an assistant professor at the Questrom School of Business at Boston University and a faculty research fellow at the National Bureau of Economic Research. Jetson walks us through such things as ambulance fraud, identity theft, and other techniques that are used to milk the system. He also explains the tactics and strategies that the government can deploy to reduce billions in wasted spending.
Become a Bloomberg.com subscriber using our special intro offer at <a href="http://www.bloomberg.com/podcastoffer?utm_medium=referral&amp;utm_source=Podcast&amp;utm_campaign=OddLots">bloomberg.com/podcastoffer</a>. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the <a href="https://podcasts.apple.com/us/channel/bloomberg/id6442484579">Bloomberg channel page</a> in Apple Podcasts to listen ad-free.

How Fraudsters Are Bilking the Government Out of Billions of Dollars

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/883dd51a-368a-4521-aea3-b229014f766d/transcript

In the final episode of our special three-part series exploring the US economy through the chicken industry, we’re taking a look at market competition. Chicken in the US is dominated by a handful of huge poultry processors. But new technologies,  like algorithmic pricing, are also leading to accusations of anticompetitive corporate behavior that can potentially create bad outcomes for both consumers and workers. We’re using poultry to trace the evolution of America’s approach to antitrust and learning what’s different now. You’ll hear from senior officials at the Department of Justice about how concentration in chicken and elsewhere is impacting the economy, and what can be done to fix it. 



Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free.

In the final episode of our special three-part series exploring the US economy through the chicken industry, we’re taking a look at market competition. Chicken in the US is dominated by a handful of huge poultry processors. But new technologies,  like algorithmic pricing, are also leading to accusations of anticompetitive corporate behavior that can potentially create bad outcomes for both consumers and workers. We’re using poultry to trace the evolution of America’s approach to antitrust and learning what’s different now. You’ll hear from senior officials at the Department of Justice about how concentration in chicken and elsewhere is impacting the economy, and what can be done to fix it. 
 
Become a Bloomberg.com subscriber using our special intro offer at <a href="http://www.bloomberg.com/podcastoffer?utm_medium=referral&amp;utm_source=Podcast&amp;utm_campaign=OddLots">bloomberg.com/podcastoffer</a>. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the <a href="https://podcasts.apple.com/us/channel/bloomberg/id6442484579">Bloomberg channel page</a> in Apple Podcasts to listen ad-free.

Beak Capitalism, Part 3: Un-Clucking the System

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7b6925db-35ef-411c-bc2e-b228016542ea/transcript

Harley Bassman on Trump, the Fed, and the Bond Market

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