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On Wall Street it’s often said the bond market is where the smart money resides.

After decades of rising prices and declining yields, a secular reversal in bonds may now be in play.

Yields have been steadily rising since the pandemic lows in 2020 and now the Federal Reserve and other world central banks are embarking on interest rate hikes.

But these hikes are raising the cost of capital right as global economic growth is sharply decelerating.

This risks pushing the world into recession, which is what today’s inverting yield curves are warning.

To find out exactly what the bond market is telling us about the future it sees ahead, we talk with macro analyst & former trader Alfonso Peccatiello.

To hear his answers, as well as why he’s currently short the markets, watch today’s video interview with Alf.


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