Tech Has Led for 20 Years. Bonds Yield Over 5%. What If Your Biggest Risk Is What You Don’t Own?
For wealth professionals, the episode ties several portfolio-level questions together: concentration in tech, the role of bonds when yields are above 5%, and how assumptions about rate cuts or rescues may shape risk. It is framed around what investors may not own and what they may be overlooking.
Summary
By the bonds & fixed income deskExcess Returns Weekly Wrap revisits conversations with Barry Ritholtz, Jim Paulsen and Ben Hunt on the AI boom, tech-stock complacency, bond yields and government rescues. The episode connects AI financing and electricity demand with questions about investment returns, investor confidence and the pain that can precede rate cuts or support. It also discusses the renewed case for high-quality bonds and the limits of government backstops.
- Barry Ritholtz discusses AI financing, IPO valuations and data-center obsolescence risk.
- Jim Paulsen distinguishes two decades of tech outperformance from recovering after a major drawdown and discusses investor complacency.
- Barry Ritholtz discusses the renewed case for high-quality bonds without calling a market bottom.
- Ben Hunt discusses competition for electricity, government backstops and the limits of “too big to fail.”
Chapters
From the publisher’s description| Time | Chapter | Length |
|---|---|---|
| Introduction and the AI financing question | 9 min | |
| Jim Paulsen on tech outperformance and complacency | 9 min | |
| Ben Hunt on who pays for AI’s power demands | 6 min | |
| Barry Ritholtz on the case for bonds | 6 min | |
| Jim Paulsen on rate cuts and falling stocks | 6 min | |
| Ben Hunt on the pain before an AI backstop | 4 min | |
| The long-term costs of repeated rescues | 3 min |
Similar items
Same topic Mind the $2 Trillion Gap | WiWisdomTree |
 Quality, Liquidity, and Yield in Agency Mortgages | PIPIMCO |
 Diversifying Globally Without Giving Up Yield | PIPIMCO |
 Joseph Moore: The Investments That Matter Most May Not Be in Your Portfolio | LVThe Long View (Morningstar) |
 Episode 93: Municipal Bond Yields Are the Highest in a Generation | MMMacro Markets (Guggenheim Investments) |
Get the weekly 3 to watch
Free, in the Morning BriefEvery week the Morning Brief picks three videos and podcasts worth your time, with why each one matters.
Free. Every morning. Unsubscribe from any edition in one click.
Videos and podcasts are embedded from their publishers. Selections and summaries are editorial and are not investment advice.