Shows / Basis Points
Basis Points
Macro commentary and expert-led discussions highlight what’s happening now in fixed income investing, so you can prepare for what’s next. Investing involves risks including loss of principal. This material represents the opinions of the participants at a specific time and is not intended to forecast future events or guarantee future results and should not be relied upon as investment advice. Kevin Flanagan is a registered rep of Foreside Fund Services, LLC.
Episodes
- Basis Points
Fed Watch: Holding the Line
The Fed held rates steady at the October FOMC meeting, but another increase in December remains in play if growth stays solid and inflation remains above…
- Basis Points
Investing in a 5% Bond World: The Barbell
Growth, sticky inflation, policy uncertainty and Treasury supply have pushed long-term yields to multi-decade highs. On this week’s episode of the Basis Points…
- Basis Points
“Zero-ing” In on Higher Bond Yields
The 10-year U.S. Treasury yield reached 5.36%, its highest level in 20 years, amid a mix of growth, inflation, policy uncertainty and supply pressures. This…
- Basis Points
Higher Bond Yields Go Global
The 10-year Treasury yield hit a 19-year high of 5.2% last week, and it isn't alone: Japan, Germany and the UK have all seen their 10-year yields climb to…
- Basis Points
Fed Watch: Finally, ‘Walkin’ the Walk’
At the September FOMC meeting, the Fed raised rates by 25 basis points to 3.75%–4.00% amid persistent inflation pressures. This week on Basis Points, Kevin…
- Basis Points
The Bond Market Is Just Doing Its Job
UST yields are climbing back to more “normal” historical levels, but the sell-off has stayed orderly, with no liquidity or funding stress in sight. This week…
- Basis Points
Bessent & Warsh Go Down the Jackson Hole
Treasury yields have climbed to levels not seen since before the 2007 Financial Crisis, and the Treasury Department’s latest buyback push barely dented the…
- Basis Points
What’s Driving Treasury Yields Higher?
AI-related debt issuance has surpassed $500 billion in 2026 alone, adding to supply pressures in bond markets already contending with a nearly $2.0 trillion…
- Basis Points
Is the Bond Market Putting Warsh in a Corner?
Long-term Treasury yields have surged following the July FOMC meeting, as limited forward guidance raised questions about the Fed’s policy reaction function…
- Basis Points
Fed Watch: Is It a Matter of When, Not If?
The Fed kept rates unchanged at the July FOMC meeting, but markets are increasingly focused on the prospect of future hikes. This week on Basis Points, Kevin…
- Basis Points
A New ‘Warsh’ Cycle
The Fed may be entering a new era, and investors expecting easy rate cuts could be in for a surprise. This week on the Basis Points podcast, Kevin Flanagan is…
- Basis Points
Closing the Curtain on Rate Cuts
The June jobs report all but shut the door on expectations for Fed rate cuts this year. On this week’s episode of Basis Points, Kevin Flanagan explains why the…
- Basis Points
A ‘Warsh’ Out at the Fed
The June FOMC meeting may be remembered less for holding rates steady and more for Kevin Warsh’s overhaul of how the Fed communicates policy. This week on the…
- Basis Points
Fed Watch: The Changing of the Guard Finally Arrives
The Fed remained on hold at yesterday's FOMC meeting, but the policy backdrop is becoming more complicated. This week on Basis Points, Kevin Flanagan analyzes…
- Basis Points
Private Credit Beyond the Headlines: Why Diversification and Liquidity Matter More Than Ever
Private credit is often discussed as a single asset class, but the opportunity set extends far beyond direct lending. This week on the Basis Points podcast…
- Basis Points
Are Bessent’s Hands Tied?
The 10-year Treasury yield has repeatedly snapped back into a 4.0%–4.5% range despite bouts of market volatility. This week on the Basis Points podcast, Kevin…
- Basis Points
‘Warsh’ and Dry
Inflation fears are back, with Treasury yields climbing sharply and markets now pricing in a potential Fed rate hike by 2027. This week on the Basis Points…
- Basis Points
What’s ‘Under the Hood’ of Your Core Bond Position?
Nearly half of the Bloomberg U.S. Aggregate Bond Index is now made up of Treasuries, a dramatic shift from just 22% in 2002. This week on the Basis Points…
- Basis Points
Powell Stays…Should the Dot Plot?
Four Fed officials dissented in April—the most since 1992—signaling growing division on rate policy. This week on the Basis Points podcast, Kevin Flanagan…
- Basis Points
Fed Watch: Powell’s Last Stand & What Comes Next?
At the April FOMC meeting, the Fed held rates steady for a third consecutive time, but uncertainty is only building. This week on the Basis Points podcast…
- Basis Points
Inflation’s First Official Debut
March CPI surged +0.9%, its largest monthly jump since 2022, driven by the sharpest gasoline price increase since 1967. This week on the Basis Points podcast…
- Basis Points
Nowhere to Hide…Except Maybe Treasury Floating Rate Notes
Treasury yields have surged despite geopolitical tensions, challenging their traditional safe-haven role amid rising inflation fears. This week on the Basis…
- Basis Points
How to Mitigate Software Exposure in Bonds
Credit spreads are widening again as liquidity concerns resurface and AI-driven disruption—especially in software—comes back into focus. This week on the Basis…
- Basis Points
Fed Watch: Between a Rock and a Hard Place
The latest FOMC meeting reinforced a patient Fed, but the outlook remains uncertain. Kevin Flanagan breaks down how policymakers are weighing inflation…
- Basis Points
One Week Later
Oil surged above $100 and the 10-year Treasury jumped toward 4.2% as Middle East tensions and fresh economic data jolted markets in the past week. This week on…
- Basis Points
Is “Selling America” Fake News?
Foreign investors held a record $9.27 trillion in U.S. Treasuries at the end of 2025, even as “Selling America” fears made headlines. This week on the Basis…
- Basis Points
A World Without the ‘Dot Plot’?
The Fed’s ‘dot plot’ has become a market-moving ritual, but it’s only been around since 2012. This week on the Basis Points podcast, Kevin Flanagan examines…
- Basis Points
Warsh’s Reality Check: The Fed Balance Sheet
The Fed still holds $6.3 trillion in Treasuries and mortgage-backed securities, well above pre-pandemic levels. This week on the Basis Points podcast, Kevin…
- Basis Points
Weighing in on Warsh
Markets reacted quickly to the nomination of Kevin Warsh as the next Fed Chairman, but the bigger story lies beyond the headlines. This week on the Basis…
- Basis Points
Trump Administration’s Plan to Buy Agency MBS: How to Play It?
Policy headlines are creating fresh opportunities in securitized markets. This week on the Basis Points podcast, Kevin Flanagan is joined by Dave Goodson, Head…
- Basis Points
Fed Watch: Can I Place You on Hold?
After a flurry of rate cuts at the end of 2025, the FOMC decided to pause their rate cuts at the January meeting, keeping the fed funds trading range at…
- Basis Points
A Quality-Screened Substitute for Bank Loans
Bank loans come with yield, but also risk. This week on the Basis Points podcast, Kevin Flanagan explains how the WisdomTree Interest Rate Hedged High Yield…
- Basis Points
Putting a Steeper Yield Curve to the Test
The steepening yield curve isn’t just a forecast, it’s atest. This week on the Basis Points podcast, Kevin Flanagan breaks down a horizon analysis using our…
- Basis Points
The Answer to the Curve Steepener: Active/Passive Barbell
The Treasury yield curve steepened in 2025, and 2026 could bring more of the same. This week on the Basis Points podcast, Kevin Flanagan explains why an…
- Basis Points
The Fed’s Silent Dissenters
The Fed’s divisions may run deeper than the official vote count suggests. This week on the Basis Points podcast, Kevin Flanagan unpacks the concept of “silent…
- Basis Points
Fed Watch: Recalibrating the “Recalibration”
As expected, the Fed delivered a third straight 25-basis-point rate cut at the December FOMC meeting. With the resumption of rate cuts now at round three…
- Basis Points
How Can New Hiring and the Unemployment Rate Rise at the Same Time?
How can new hiring and the unemployment rate rise at the same time? In this episode of Basis Points, Kevin Flanagan explains the mechanics behind September’s…
- Basis Points
Fed Watch: A House Divided?
The latest market focus is back on the Fed, and a growing divide inside the FOMC. This week on the Basis Points podcast, Kevin Flanagan breaks down why…
- Basis Points
Back to Basics with Tax-Aware Laddered Bond Strategies
It’s time to go back to basics with fixed income. This week on the Basis Points podcast, Kevin Flanagan, shares how tax-aware laddered bond strategies in both…
- Basis Points
Want to Go Long Duration? Not Recommended at This Time
Yields are hovering just above 4%, but that doesn’t mean it’s time to extend duration. This week on Basis Points, Kevin Flanagan explains why sticky inflation…
- Basis Points
Fed Watch: Risk Management Continues
As was widely expected, the Fed implemented a 25bp rate cut at the October FOMC meeting, bringing the new fed funds trading range down to 3.75%–4%. This week…
- Basis Points
What If: The Other Side of the Trade
What if the labor market is turning a corner? This week on Basis Points, Kevin Flanagan discusses the “other side of the trade” asking whether the Fed and bond…
- Basis Points
Narrowing the Short List for Fed Chair
Who’s next to lead the Fed? This week on Basis Points, Kevin Flanagan discusses the five candidates reportedly on the shortlist to succeed Chair Powell and…
- Basis Points
‘Flying Blind’ in the Shutdown?
With the government shutdown now stretching into its second week, key data releases have been delayed and uncertainty is rising. In this week’s episode of…
- Basis Points
Treasury FRNs Remain a Cornerstone Bond Strategy
Where should fixed income investors look now that the Fed has resumed rate cuts? In this episode of Basis Points, Kevin Flanagan explains why Treasury Floating…
- Basis Points
Fed Watch: Will It Be Déjà vu All Over Again?
As was widely expected, the Fed implemented a 25-basis-point rate cut at today's FOMC meeting, bringing the new Fed Funds trading range down to 4%–4.25%. This…
- Basis Points
Treasury Yields: How Low Can We Go?
How low can yields go and what comes next? This week on Basis Points, Kevin Flanagan unpacks the latest jobs report and what it signals for the Fed’s next…
- Basis Points
Fed Watch: Independence & Filtering Out the Noise
What’s really happening inside the Fed? This week on Basis Points, Kevin Flanagan breaks down recent headlines around Chair Powell’s future, board reshuffling…
- Basis Points
Steeper Curves Ahead
Following the softer than expected July jobs report, the money and bond markets have fully embraced the narrativethat a Fed rate cut will be coming at the…
- Basis Points
Is a September Rate Cut Now in Play?
A surprisingly soft July jobs report – and what appears to be the largest non-COVID downward revision since 1979 – has shifted the Fed conversation. In this…
- Basis Points
Fed Watch: See You in September?
At the July FOMC meeting, the Fed left rates unchanged for the fifth straight time, holding firm at 4.25%–4.50%. This week on the Basis Points podcast, Kevin…
- Basis Points
Early to the Private Credit Party
Private credit is no longer just for institutions and investors are taking notice. This week on the Basis Points podcast, Kevin Flanagan is joined by Chris…
- Basis Points
What the ‘One Big Beautiful Bill’ Means for Muni Investors
Wondering what the second half of 2025 could look like for muni bonds? This week on Basis Points, Kevin Flanagan talks with Jeff Burger, Senior Portfolio…
- Basis Points
A Core Fixed Income Solution That is Built to Last
The WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) has a decade under its belt, and a performance edge to show for it. This week on Basis Points…
- Basis Points
Will the Next Fed Chair Lurk in the ‘Shadows’?
On top of all the geopolitical headlines the money and bond markets have had to contend with of late, there has been another news story which has recently…
- Basis Points
Fed Watch: In No Hurry
The Fed left rates unchanged for the fourth straight time in arow at the June FOMC meeting, holding the Fed Funds range at 4.25%–4.50%. This week on Basis…
- Basis Points
Municipals: Relative Value in U.S. Fixed Income
Munis are the only major U.S. fixed income sector delivering negative returns in 2025, down 1.1%. This week on Basis Points, Kevin Flanagan analyzes why this…
- Basis Points
Trump, Powell & Rates: Tariffs On, Tariffs Off
From the back-and-forth headlines on tariffs to Powell’s cautious Fed messaging, investors face a summer of policy-driven volatility. This week on Basis…
- Basis Points
A Global Aversion for Long Duration
The U.S. Treasury market had a volatile week, as Moody’s downgraded the U.S. credit rating and lawmakers advanced a major fiscal policy bill. This week on…
- Basis Points
Putting a Downgrade in Perspective
In what investors thought was going to be a nice start to a weekend in May got turned around with a late Friday announcement that Moody’s had just downgraded…