January 11, 2024· 44 min

Harley Bassman on Why the Big Moves in the Bond Market Are Done

Harley Bassman

Orality

Model

89%

Highly oral (epic poetry, sermons, hip-hop)

Speaker Breakdown

HostTracy Alloway(1,862 words)

M:29%

HostJoe Weisenthal(1,803 words)

M:30%

GuestHarley Bassman(4,701 words)

M:28%

Oral Indicators

Agonistic32%

basically, huge, extremely

Engagement78%

you, our, your

Memory Aids100%

listen, like, so

Repetition100%

like (77x), know (67x), it's (65x)

Parallelism69%

And I'm Joe Weisenthal...., And, you know, I I could I cou..., So after all the drama in the ...

Sound Patterns96%

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

Formulaic Phrases4%

you know what, i mean

Literate Indicators

Hedging9%

may, could, maybe

Passive Voice5%

were supposed, is often, is often

Abstract Nouns18%

investment, community, business

Subordination12%

since, while, whereas

Sentence Length28%

Avg: 11.9 words/sentence

Word Complexity44%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style22%

696 personal pronouns found

Descriptive Style70%

apply, basically, really

Description

Harley Bassman, a.k.a. the Convexity Maven, is a legend among bond investors. He worked at Merrill Lynch, where he invented the MOVE Index that measures bond market volatility, and then at Pimco. Now, after a dramatic year for US Treasuries that saw investors hit with massive amounts of volatility only for the 10-year yield to basically wind up where it was at the start of 2023, he sees things starting to get a bit more normal. With the Federal Reserve getting closer to its 2% inflation target, the yield curve is going to steepen after years of intense inversion, he says. Now a managing partner at Simplify Asset Management, Bassman also talks about his favorite trades for 2024, Fed Chairman Jerome Powell's legacy, and how he chooses his famously esoteric chart colors. See omnystudio.com/listener for privacy information.

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