October 11, 2023· 32 min

JPMorgan's Jay Barry on the Big Selloff in Bonds

Jay Barry

Orality

Model

68%

Oral-dominant (speeches, podcasts, storytelling)

Speaker Breakdown

HostTracy Alloway(1,553 words)

M:29%

HostJoe Weisenthal(1,142 words)

M:29%

GuestJay Barry(3,870 words)

M:27%

Oral Indicators

Agonistic25%

literally, completely, very

Engagement71%

you, our, your

Memory Aids100%

listen, now, so

Repetition100%

think (89x), like (86x), about (66x)

Parallelism100%

And I'm Joe Weisenthal...., So, Joe, the big story in mark..., So the yield today, well, we c...

Sound Patterns50%

36 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases6%

i mean, so to speak

Literate Indicators

Hedging10%

relatively, quite, might

Passive Voice5%

been bantered, being anchored, are headed

Abstract Nouns15%

investment, recommendation, deviation

Subordination8%

until, since, because

Sentence Length52%

Avg: 18.1 words/sentence

Word Complexity46%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style29%

510 personal pronouns found

Descriptive Style93%

literally, completely, relatively

Description

In the past week, the bond market has experienced a historic selloff. Yields on benchmark 10-year US Treasuries soared towards 4.9% while those on 30-year debt reached the highest since 2007. But the exact cause of these dramatic moves in the most important market in the world aren't entirely clear, with people looking at everything from the Federal Reserve's outlook for interest rates, to the the jump in the price of oil, or booming supply as the deficit expands, as well as more technical things like the term premium. So what's driving the selloff and how do we disaggregate interrelated things like supply and demand? How do you decompose longer-term and short-term factors feeding into the price of US Treasuries? What can stem the big moves? And what are investors saying about their appetite for US debt? We speak with Jay Barry, co-head of US interest rate strategy at JPMorgan Chase, about the big bond market selloff. See omnystudio.com/listener for privacy information.

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