Lots More on the Global Selloff in Government Bonds
Episode publishedPodcast: Odd LotsOdd Lots
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Joe, are we gonna spend this episode just arguing about the term premium? I
don't know, like yeah. Maybe. You know, I've always, like, I've always been sort of I wouldn't say a term premium denier, but I'd never Yes.
Yes. You are. Okay.
But, like and I was totally ready to capitulate. I was like, oh, it's all the term premium. And I was like, I'm totally convinced the term premium is this really important concept that can be measured analytically with precision. And then 2 people were like, oh, it's actually you don't really have to go that far. It's sort of straightforward. I still don't. You
know there's a middle path where you can say that the term premium is hard to measure because you have to estimate, like, a risk neutral rate, but but it still exists. It might mean different things to different people, but
I've never been good in life at taking the middle path in anything. I I oscillate between, extremes. I did a dead left.
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