This Is Probably Fine!
From Patrick Boyle On Finance by Patrick Boyle
May 30, 2026 · 30 min · Season 6 · Episode 23
About this episode
Patrick Boyle discusses the rise in global bond yields and its implications for the economy and central banks.
US 30-year Treasury yields just hit 5.2% — the highest level since July 2007. UK gilt yields are at levels not seen since 1998. Japanese bond yields are at record highs. Something is happening in global bond markets, and it's not just about inflation.In this video I explain what's driving the global rise in long-term borrowing costs, why the era of free money is probably over, and what fiscal dominance means for central bank independence. I cover the history of US presidents fighting with the Federal Reserve — including LBJ shoving his Fed Chair against a wall — the 1970s UK economic collapse, the Liz Truss mini-budget crisis, the role of private credit and off-balance-sheet SPVs in financing the AI boom, and what all of this means for the new Federal Reserve Chair Kevin Warsh. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance…
People in this episode
Host: Patrick Boyle
Topics covered
- global bond markets
- long-term borrowing costs
- central bank independence
- fiscal dominance
- US Federal Reserve history
- economic crises
Keywords
- Treasury yields
- gilt yields
- bond markets
- inflation
- fiscal dominance
- Federal Reserve
- private credit
- AI boom
Mentioned in this episode
Organizations: Federal Reserve, UK, US, Japan
More episodes of Patrick Boyle On Finance
- When a Housing Boom Turns to Bust · June 7, 2026 · 27 min
- The Most Unprofitable IPO in Wall Street History · May 23, 2026 · 30 min
- What Trump's China Visit Actually Achieved. · May 17, 2026 · 26 min
- The Dumbest Takeover Bid · May 10, 2026 · 31 min
- The Unanchored Central Banker: Manoj Pradhan on Inflation, Demographics, and Why AI Won't Save Us · May 6, 2026 · 51 min
- Is Inflation About to Get Much Worse? · May 3, 2026 · 33 min
Explore listener stats, chart rankings, contacts and more on the Patrick Boyle On Finance podcast page.