Harley Bassman, The Convexity Maven

Podcast: Alpha Exchange · Dean Curnutt

Opublikowano: 2026-10-06

My guest today on the Alpha Exchange is the Convexity Maven, Harley Bassman. Harley joins me at a particularly interesting moment for markets, with long-end Treasury yields backing up, rate volatility elevated and the traditional relationship between stocks and bonds looking increasingly unsettled. We begin with Harley’s argument that the rise in long-term yields is less an inflation story than a trust story. With large fiscal deficits, growing interest expense and an enormous amount of Treasury supply coming to market, he sees investors demanding greater compensation to own long-duration government debt. Add substantial borrowing fro...