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#428 Jim Bianco: After 6 Years Bearish, I’m Finally Turning on Bonds — Why 5% Is the New Normal
Jim Bianco, president of Bianco Research, joins Julia La Roche in studio for the first time in a year with a big shift: after six years of being bearish on bonds, he’s turned neutral and even launched a bond fund. He argues 5% yields are fair value, not a crisis, because we’re now in a world of 3% inflation and 2% growth. He says that world exists by choice: Washington won’t let cheap Chinese goods back in, as shown by the $15,000 Chinese electric car the U.S. has effectively banned, and wage-driven services inflation stays sticky. On the midterms, he says the key question is whether moderate…
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