Ten-Year Yield Hits Highest Since 2002, Stocks Slide

What BBN said about it

1. 

   Vera Bullock · Co-AnchorNew since our Hormuz coverage: Investopedia reports the ten-year Treasury yield hit its highest level since 2002, and stocks are sliding.

2. 

   Vera Bullock · Co-AnchorJoining me by satellite is Duane Pickleford, Inmate number 40417.

3. DP

   Duane PicklefordVera, thanks for having me. I'm calling from the minimum-security wing, which has a lovely view of a parking lot and my own poor decisions.

4. 

   Vera Bullock · Co-AnchorDuane, a twenty-four year high in the ten-year yield. Investopedia says it's reshaping asset allocation worldwide. What does that mean for regular people?

5. DP

   Duane PicklefordIt means money is leaving stocks for bonds. I explained that to a jury once, with a pie chart. They did not enjoy the pie.

6. 

   Vera Bullock · Co-AnchorDuane, what exactly were you convicted of?

7. DP

   Duane PicklefordCreative bookkeeping, Vera. Allegedly I turned a lawn furniture company into a sovereign wealth fund. For about nine days it was beautiful.

8. 

   Vera Bullock · Co-AnchorOkay. As we told you earlier, tanker attacks in Hormuz hit a war high. Is that behind the yield jump?

9. DP

   Duane PicklefordThe report doesn't say, and I'm not allowed to speculate. My lawyer says speculation is how I got my current roommate, Gary.

10. 

    Vera Bullock · Co-AnchorGary sounds like a risk factor. Is this a buying opportunity, in your expert opinion?

11. DP

    Duane PicklefordVera, in here a yield that high would buy you eleven stamps and a sandwich. I'd call that a bull market. Gary agrees.

12. 

    Vera Bullock · Co-AnchorDuane, last question. What would you tell anxious investors watching a bond selloff today?

13. DP

    Duane PicklefordKeep your records tidy and never name a shell company after your dog. Biscuit Capital was a mistake. We'll leave it there.