Blockworks Macro, Released on 9/15/23

Jack interviews Jim Bianco of Bianco Research at Blockworks’ Permissionless event in Austin. Filmed on September 12, 2023.

00:00 Introduction
03:29 No Rate Cuts If Oil Prices Stay High
06:28 Jim Bianco: The Recession Already Happened In 2022
15:11 What Is Appropriate Level On Interest Rates (And Bond Yields) For U.S. Economy?
24:59 A “Garden Variety Recession” Hasn’t Occurred In Many Decades
33:28 Household’s And Corporates’ Terming Out Of Debt In 2020
34:41 Mortgage Market Is Hurting Banks
42:55 Fixed-Income Outlook: Duration Vs. Credit
45:37 Jim Bianco: Macro Will Be A Headwind For Crypto
51:54 Increased Regulatory Scrutiny For Crypto

Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of traditional Wall Street research, Jim has built a decades long reputation for objective, incisive commentary that challenges consensus thinking. In nearly 20 years at Bianco Research, Jim’s wide ranging commentaries have addressed monetary policy, the intersection of markets and politics, the role of government in the economy, fund flows and positioning in financial markets. Prior to joining Arbor and Bianco Research, Jim was a Market Strategist in equity and fixed income research at UBS Securities and Equity Technical Analyst at First Boston and Shearson Lehman Brothers. He is a Chartered Market Technician (CMT) and a member of the Market Technicians Association (MTA). Jim has a Bachelor of Science degree in Finance from Marquette University (1984) and an MBA from Fordham University (1989).