Nanette Jacobson, Global Investments Strategist at Hartford Funds, joins Forward Guidance to share her investment outlook. Jacobson argues that it might be time to lean into bonds because the bonds tend to rally 13 months before the Federal Reserve cuts rates, and she and Jack Farley debate the various merits of owning bonds at this juncture in the business cycle. Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ Timecodes: 00:00 Introduction 00:30 Economic Outlook 09:04 Outlook On Banking System 12:45 Views On Interest Rates & Fed 25:20 China is "Cheap For A Reason" 30:14 U.S. Fiscal Stimulus 37:22 Cautious Views On Stocks 39:05 Common Costly Mistakes That Investors Make 39:06 Debate About Bonds 45:56 Common Costly Mistakes That Investors Make 50:52 Expensive Stocks Can Always Get More Expensive ... https://www.youtube.com/watch?v=RRUGqwVCxc0

On today's episode of On the Margin, Peter Boockvar Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report joins the show for a discussion on the path ahead for the U.S economy. As markets have rallied to start the year, Peter walks through the state of the U.S economy. With inflation having seemingly peaked, Powell seems confident that disinflation will be the path ahead for 2023. Peter breaks down Powell's recent comments at the press conference last week before discussing how interest rates being "higher for longer" will effect corporate & household balance sheets and wether the Fed will get their soft landing. To hear all this and more, you'll have to tune in! -- Follow Peter: https://twitter.com/pboockvar Follow Mike: https://twitter.com/MikeIppolito_ Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Today's show is sponsored by Public.com: Get a 4.9% yield when you open a government-backed Treasury Account.* That's a higher yield than a high-yield savings account.** Go to https://Public.com/onthemargin *26-week T-bill rate (as of 2/6/23) when held to maturity. Rate shown is gross of fees. **As compared to the national high-yield savings average of 3.43% (Source: Time.com/NextAdvisor as of 12/30/22). -- Use code MARGIN10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 -- Referenced In The Show: All Eyes On Inflation: "A Pause Is Not A Pivot" | Weekly Round Up: https://open.spotify.com/episode/50ABz990nXRh2NEXU6aVRd?si=3b9a53f609314f94 The Boock Report: https://boockreport.com/ -- Timestamps: 00:00 Introduction 00:35 A Breakdown of The U.S Economy 02:40 Why Animal Spirits Are Back For Markets 08:45 Will Powell Get His Soft Landing? 14:12 Public Ad 15:59 Rates Will Remain Higher For Longer 22:46 The Chinese Reopening 27:00 The Path Ahead For Inflation 30:40 Permissionless Announcement 31:24 Preparing For A Recession 38:50 Breaking Down Earnings 46:16 "The Market Is Partying Like It's 2021" -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets. ... https://www.youtube.com/watch?v=SEsEUaFl054

Peter Stella, Former Head of the IMF Central Banking Division, joins Joseph Wang, former senior trader for the New York Fed and author at Fedguy.com, and Jack Farley for a wide-ranging discussion on: -what really causes inflation -monetarism, fiscal theory of the price level, and modern monetary theory (MMT) -the unrealized losses on the Fed’s balance sheet -why yield curve control likely won’t be necessary (or so Peter argues) -the longer the duration of a governments’ debt, the less inflation is required to inflate it away -when a central bank incurs unrealized losses, who “wins” and who “loses”? Filmed on March 29, 2023. ____ Follow Joseph Wang on Twitter https://twitter.com/FedGuy12 Joseph Wang’s writings: https://fedguy.com/ Joseph’s latest piece, “Ameridollars”: https://fedguy.com/ameridollars/ Peter Stella on Twitter: https://twitter.com/Stellar_Consult Peter Stella’s work: https://www.centralbankarchaeology.com/ “Do Central Banks Need Capital?” by Peter Stella: https://www.imf.org/en/Publications/WP/Issues/2016/12/30/Do-Central-Banks-Need-Capital-2260 Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ ____ Use code GUIDANCE10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023 Research, news, data, governance and models – now, all in one place. As a listener of Forward Guidance, you can use code GUIDANCE10 for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ ____ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos ____ Timestamps: 00:00 Intro 00:15 Peter Stella's Background At The International Monetary Fund (IMF) 03:55 Joseph Wang On The Flaws Of Monetarism 05:52 Milton Friedman: It's The Government That Prints Money 07:56 The Fiscal Theory Of The Price Level 13:38 Modern Monetary Theory (MMT) 24:12 Real Value Of U.S. Debt Is Lower Now Than March 2020 37:33 Permissionless 38:38 The Fed Has Huge Unrealized Losses On Its Balance Sheet 45:29 Details About The Fed's Mortgage-Backed Securities (MBS) Purchases In 2020 51:51 Did The Fed Help Wealthy Homeowners Refinance Their Mortgages In 2020? 54:21 Blockworks Research Plug 55:22 When The Federal Reserve Has Unrealied Losses On Its Balance Sheets, Who Loses and Who Gains? 01:13:50 Joseph Wang's Summary Of This Conversation 01:15:08 Yield Curve Control and Potential Debt Death Spiral ____ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets. ... https://www.youtube.com/watch?v=5JEOCoGjq5o

In this episode I am joined by Mike Green of Simplify Asset Management for a discussion on the US China relationship. We covered the rise of China and its key strategic objectives, how the US faces challenges internally, rising inequality as a vector of attack, the relationship between capital and labor, and finally a path forward for the future. ---- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like On the Margin, visit http://blockworks.co/podcasts. ... https://www.youtube.com/watch?v=WMpoY3jagig