With Alfonso Peccatiello, The Macro Compass
(Adds transcript to the bottom of this page. To get the transcript sooner, and take advantage of a host of other benefits, become a premium subscriber).
Alfonso Peccatiello joins the podcast to discuss his contrarian views on inflation, bond yields, and interest rates.
The guest doesn’t buy the inflation narrative entirely, believing credit creation has peaked. We are likely to see negative economic surprises and drawdowns in risk assets starting in the fourth quarter. The yield on 10-year bonds should peak at 0.5% due to a ‘Eurofication’ of the U.S. yield curve.