The Big Bond Selloff

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Something just feels so right about Patrick wearing his full suit and tie, in a spotless, all white and stainless steel kitchen, where the only sign of food is the sponsor. Like this is theoretically how he would prepare a meal if he didn't get all his calories and nutrients from consuming economic data.

It feels weird seeing Patrick standing up with his legs visible to the camera. This is how I learned that my mental model of Patrick didn't include legs before now.

I worked in a retail bank as an Investment Advisor and this is what made me leave, the last 3 years we have been selling low risk investors with short term (3-5 years) investment horizons these heavily weighted bond portfolio like it’s 2015, and calling them low risk, while the volatility in these funds is just as high if not higher than our equity/growth funds, but with a near zero rate of recovering any losses in the investors timeframe - REALLY glad to hear you taking the contrarian stance here Patrick compared to most of the market commentators out there, I’ve been harping on about low risk being high risk since 2020 and feeling like a damned Cassandra

I can't picture Patrick consuming food

I'm a fishmonger. The fact that I'm equally as excited about Patrick's next videos as I am for my football-team's next game is bewildering - yet utterly understandable! Thank you Patrick, I now talk about economics, stock market, bond market, etc, to my customers at the fish store - to their complete astonishment!

I am loving your deadpan style of advertising! I can see you've been having Huel for breakfast, lunch and dinner because your kitchen looks like you've never used it!!

PATRICK BOYLE IN DA HOUSE EVERYBODY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The ad bit was the best part!! Now I want some sponsor that will make Patrick do the lawn in suit and tie

This is why you should buy debt based on the terms offered and not to speculate on what other people might pay for it later. It drove people to do stupid things like purchase debt at near 0 interest. This was never a good deal. of course those bonds are nearly worthless, they were always worthless.

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I enjoy the occasional video where you keep things totally serious. It's nice to have a mix of your humor and straight takes.

It's crazy. Portfolios made for risk-averse people actually lost while portfolios made for risk seeking people gained over the last decade. If you think about it, this makes it questionable to actually even try to make a "risk-averse" portfolio because in the end they always perform worse. Even in bad times.

Awesome cliff notes version of what's going on and where we're headed. Real concise yet broad based as only Patrick can produce. Thanks Patrick!

I have decided to start taking notes on these videos.

Bonds are typically considered a "flight to safety" during recession. But Federal Government revenues decline during recession. During the GFC Federal tax receipts dropped by 18%. If that were to happen again the Federal Treasury would see around a 1 trillion dollar decline in annual revenues. Congress will either have to cut spending (lol) or borrow the difference. What yield will be required for the market to absorb an additional 80 billion per month in UST on top of what is currently being sold? Short of FED QE there is not enough real demand for these securities. I think we could easily see a recession and rising bond yields. Again QE could solve this but that is highly inflationary so the FED may very well hesitate to once again rely heavily on their QE program.

Yes! A new Patrick Boyle video is just the way to start the day, thank you and good morning from anchorage Alaska!

The country needs inflation in order to pay its debt. Everything is going according to plan.

Could you do a video on why the Federal Reserve doesn't try changing the reserve requirement ratios to fight inflation? They've been 0% since March 2020, and raising them would clearly combat inflation by reducing cash supply.

You have fairly stacked up the subscribers bud. I remember telling my cousin to watch your videos when you had around 10k subs and I told him you were going to be big. Could tell how professional you are. All the best bud.