Slaying the Inflation Dragon | Jurrien Timmer
Jurrien Timmer, director of global macro research at Fidelity, joins Forward Guidance to explain his outlook of the current macro environment marked by slowing rates of growth and inflation coming down from high levels as central banks scramble to tighten monetary conditions. Timmer notes that while risk-free rates (as measured by Treasury yields) have risen sharply, risk premia as measured by credit spreads - and, in particular, the earnings yield of stocks - have barely budged.\nTimmer shares his outlook on bonds, commodities, equities at this point in the economic cycle, and he explains his long-term bull case for Bitcoin, as well as why one of his models indicates gold is severely undervalued (not investment advice). Nothing Timmer or Farley say is investment advice.Follow Jurrien \n\nTimmer on Twitter @TimmerFidelity\nFollow Jack Farley on Twitter @JackFarley96\nFollow Blockworks on Twitter @Blockworks\n_____\n\nBit.com\xa0is a full-suite cryptocurrency exchange launched by Matrixport, an integrated financial services firm headquartered in Singapore. Since August 2020,\xa0Bit.com\xa0has been online supporting the spot, perpetual, futures, fixed income and options products, with a particular highlight being pioneers to launch BCH options.\xa0Bit.com\xa0is the second-largest in the BTC and ETH options market.\nCall to action: For any further enquiry, please contact\xa0vip@bit.com.\nSign up URL:\xa0https://bit.ly/3KlgLR3\nApp download URL:\xa0https://bit.ly/3xer6uI\n--\nIf you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter\n--\n\n(00:00) Introduction\n(06:08) Where Are We In The Cycle Now?\n(12:40) Slaying The Inflation Dragon\n(21:29) The Stock Market\n(30:22) Bit.com Ad\n(31:00) Commodities\n(36:25) Gold\n(44:24) Will The Fed Reverse on Quantitative Tightening (QT)?\n(56:48) Japanification & Yield Curve Control\n(1:06:18) Bitcoin