DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP, offers his case for what has driven the 10-year treasury yield to its highest level in 16 years. Borrowing costs are soaring. BOVE identifies the sharp reduction, over $1 trillion, in the US Money Supply for the rise in the 10-year yield. The US Treasury is feeling the ripple effects. “The Treasury is paying money to the Fed as it is losing money on its operations,” says BOVE. The CONVERSATION also discusses two opposite sides of the Fed’s latest challenges. Professor Jason Furman of Harvard says losses at the Fed Reserve don’t matter. Alex J Pollack, writing in The Hill, disagrees, describing the Fed’s accumulated operating losses “a landmark event.” BOVE explains why the losses impact the financial system in far-reaching and negative ways. “I feel the Fed is shrinking the money supply on purpose to drive up interest rates because they want the economy to slow,” says MAT VAN ALSTYNE, ODEON co-founder and managing partner.

Meanwhile, our host, JOHN AIDAN BYRNE, opens up a CONVERSATION on the phenomena of celebrity TAYLOR SWIFT as sales for her concerts and appearances have sold out. BOVE shares some personal family stories on the SWIFT monetary bandwagon. US consumers have been splurging on experiences, travel and personal indulgences as housing prices soar, and as stark signs of consumer stress emerge. Elsewhere, we discuss the realities and concerns of the Green New Deal. BOVE presents his latest research on US banks amidst the continuing crisis in the sector.

Questions & Comments: Podcast@odeoncap.com