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#411 George Noble: Market Is Entering a Dangerous Phase
George Noble, CIO of Noble Capital Advisors and former Fidelity fund manager under Peter Lynch, joins Julia in studio as the 10-year Treasury yield breaks 5% and the Fed hikes rates. George says his call is "rotation, not recession." He's passionately bearish on tech and consumer discretionary and wildly bullish on gold and energy, which have been on fire this year. He argues the bond market is driving everything: runaway deficits and the AI capex boom are pushing up the global cost of capital. In his view, today's rates aren't abnormal; the long era of depressed rates was. He gives a pointed…
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