Basis Points
Macro commentary and expert-led discussions highlight what’s happening now in fixed income investing, so you can prepare for what’s next. Investing involves risks including loss of principal. This material represents the opinions of the participants at a specific time and is not intended to forecast future events or guarantee future results and should not be relied upon as investment advice. Kevin Flanagan is a registered rep of Foreside Fund Services, LLC.
Episodes
The 10-year Treasury yield hit a 19-year high of 5.2% last week, and it isn't alone: Japan, Germany and the UK have all seen their 10-year yields climb to multi-decade highs. This week on Basis Points, Maggie Lucier, Senior Associate, Investment Strategy, joins Kevin Flanagan to explain the common forces behind the global bond sell-off, including deficit spending, inflation concerns and central bank tightening, and why Japan is the...
At the September FOMC meeting, the Fed raised rates by 25 basis points to 3.75%–4.00% amid persistent inflation pressures. This week on Basis Points, Kevin Flanagan explains why the move may not be the last hike investors see this year.
Basis point: 1/100th of 1 percent.
Please see the WisdomTree Glossary for additional definitions of terms and/or indexes.
UST yields are climbing back to more “normal” historical levels, but the sell-off has stayed orderly, with no liquidity or funding stress in sight.
This week on Basis Points, Maggie Lucier joins Kevin Flanagan to explain why rising rates reflect the bond market simply doing its job, and how WisdomTree’s Zero Duration Suite can help portfolios adapt.
Basis point: 1/100th of 1 percent.
Please see the Wisdom...
Treasury yields have climbed to levels not seen since before the 2007 Financial Crisis, and the Treasury Department’s latest buyback push barely dented the trend. This week on Basis Points, Kevin Flanagan examines why the bond market remains in “selling on strength” mode ahead of Fed Chair Warsh’s first Jackson Hole appearance.
Basis point: 1/100th of 1 percent.
AI-related debt issuance has surpassed $500 billion in 2026 alone, adding to supply pressures in bond markets already contending with a nearly $2.0 trillion U.S. budget deficit.
This week, Maggie Lucier joins Kevin Flanagan to discuss what is keeping Treasury yields elevated, the impact of Fed uncertainty and why Kevin favors a zero-duration approach to managing interest rate risk.
Basis point: 1/100th of 1 percent.
Agg: Refers to th...
Long-term Treasury yields have surged following the July FOMC meeting, as limited forward guidance raised questions about the Fed’s policy reaction function. On this week’s episode of Basis Points, Kevin Flanagan examines whether persistent inflation and resilient labor data could leave Chair Warsh boxed into a rate hike and what heightened duration and volatility risks mean for bond investors.
Basis point: 1/100th of 1 ...
The Fed kept rates unchanged at the July FOMC meeting, but markets are increasingly focused on the prospect of future hikes. This week on Basis Points, Kevin Flanagan explains why the next move may be a matter of when, not if, and what investors should watch in the months ahead.
Basis point: 1/100th of 1 percent.
Please see the WisdomTree Glossary for additional definitions of terms and/or indexes.
The Fed may be entering a new era, and investors expecting easy rate cuts could be in for a surprise. This week on the Basis Points podcast, Kevin Flanagan is joined by Maggie Lucier, Senior Associate, Investment Strategy. Together, they discuss why Kevin Warsh's policy approach could mean higher-for-longer rates, greater bond market volatility, and a fresh playbook for fixed income investing.
Basis point: 1/100th of 1 percent.
Handl...
The June jobs report all but shut the door on expectations for Fed rate cuts this year. On this week’s episode of Basis Points, Kevin Flanagan explains why the focus has shifted to a Fed on hold, and what that means for fixed income investors embracing a barbell strategy.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/us/insights/podcasts/basis-points-podcasts
Please see the WisdomTree Glossary for ad...
The June FOMC meeting may be remembered less for holding rates steady and more for Kevin Warsh’s overhaul of how the Fed communicates policy. This week on the Basis Points podcast, Kevin Flanagan discusses what a Warsh-led Fed could mean for forward guidance, balance sheet policy and the future path of rates.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/us/insights/podcasts/basis-points-podcasts
Ple...
The Fed remained on hold at yesterday's FOMC meeting, but the policy backdrop is becoming more complicated. This week on Basis Points, Kevin Flanagan analyzes how rising price pressures, improving hiring trends and a new Fed Chair are reshaping expectations for the path of interest rates.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/us/insights/podcasts/basis-points-podcasts
Please see the WisdomTree Glos...
Private credit is often discussed as a single asset class, but the opportunity set extends far beyond direct lending. This week on the Basis Points podcast, Kevin Flanagan is joined by Chris Acito, CEO of Gapstow Capital Partners, to explore why diversification across multiple credit sectors and a clear understanding of liquidity can help investors build more resilient income-focused portfolios.
Basis point: 1/100th of 1 percent.
BDC...
The 10-year Treasury yield has repeatedly snapped back into a 4.0%–4.5% range despite bouts of market volatility. This week on the Basis Points podcast, Kevin Flanagan analyzes why speculation around Treasury Secretary Bessent capping long-term yields may be overstated, and why employment, inflation, and Treasury supply remain the real drivers.
Inflation fears are back, with Treasury yields climbing sharply and markets now pricing in a potential Fed rate hike by 2027. This week on the Basis Points podcast, Kevin Flanagan explains why the “inflation trade” has taken hold and makes the case for Treasury Floating Rate Notes as a key defense in today’s bond market.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/investments/multimedia...
Nearly half of the Bloomberg U.S. Aggregate Bond Index is now made up of Treasuries, a dramatic shift from just 22% in 2002. This week on the Basis Points podcast, Kevin Flanagan explains why rising deficits are reshaping core bond exposures and how investors may seek a more balanced approach through WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY).
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/in...
Four Fed officials dissented in April—the most since 1992—signaling growing division on rate policy. This week on the Basis Points podcast, Kevin Flanagan explains how this shift, alongside Powell staying on, may, or may not, impact future monetary policy decisions.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/investments/multimedia/basis-points-podcasts#Listen%20now
Please see the WisdomTree ...
At the April FOMC meeting, the Fed held rates steady for a third consecutive time, but uncertainty is only building. This week on the Basis Points podcast, Kevin Flanagan explains why a data-dependent Fed and a likely shift to a Warsh-led regime could signal the easing cycle is nearing its end.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/investments/multimedia/basis-points-podcasts#Listen%20now
Please se...
March CPI surged +0.9%, its largest monthly jump since 2022, driven by the sharpest gasoline price increase since 1967. This week on the Basis Points podcast, Kevin Flanagan explains why the Fed may look through this energy-driven spike, even as inflation risks complicate the path for rate cuts.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/investments/multimedia/basis-points-podcasts#Listen%20now
Please s...
Treasury yields have surged despite geopolitical tensions, challenging their traditional safe-haven role amid rising inflation fears. This week on the Basis Points podcast, Kevin Flanagan explains why Treasury floating rate notes (FRNs) may offer a more resilient way to navigate rate volatility and shifting market dynamics.
Basis point: 1/100th of 1 percent.
Learn more: https://www.wisdomtree.com/investments/multimedia/basis-points-p...
Credit spreads are widening again as liquidity concerns resurface and AI-driven disruption—especially in software—comes back into focus. This week on the Basis Points podcast, Kevin Flanagan is joined by Andrew Okrongly, Director of Model Portfolios at WisdomTree, to break down what’s driving these shifts, and why high yield’s lower exposure to software, combined with a stronger liquidity profile, may help m...
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