Yields Hit 24-Year High, Stocks Slip From Records

What BBN said about it

1. 

   Vera Bullock · Co-AnchorWhat's new, per Yahoo Finance, is that the Dow, S and P and Nasdaq are retreating from records as Treasury yields hit a 24-year high.

2. 

   Vera Bullock · Co-AnchorJoining us from a yacht is hedge fund manager Thaddeus Pembroke-Sinclair of Leviathan Drift Capital. Thaddeus, you are short everything. Why?

3. TP

   Thaddeus Pembroke-SinclairVera, I'm short stocks, bonds, and honestly the concept of Wednesday. Right now I'm on the aft deck, being short on a very long boat.

4. 

   Vera Bullock · Co-AnchorYields at a 24-year high is a gift, Thaddeus. Stocks are on sale. Why aren't you buying?

5. TP

   Thaddeus Pembroke-SinclairCute. A gift is what I leave my captain so he stops reading my emails. This is a bill, Vera. A big, wet bill.

6. 

   Vera Bullock · Co-AnchorRecords were just set, and a small retreat is not a crash. Your yacht is not a bunker.

7. TP

   Thaddeus Pembroke-SinclairMy yacht has a bunker. Below the sauna. Below the second sauna. I call it Dale's Dream, and I'm told he'd weep.

8. 

   Vera Bullock · Co-AnchorI'm not sure the sauna bunker is the flex you think. Is anybody on your boat actually long anything?

9. TP

   Thaddeus Pembroke-SinclairThe chef is long butter. The first mate is long a cousin's podcast. I fired the intern for saying the word rebound.

10. 

    Vera Bullock · Co-AnchorYou fired an intern for optimism. That's a hate crime against my entire personality.

11. TP

    Thaddeus Pembroke-SinclairRelax, Vera. Opinions are free. My opinions are just expensive to disagree with, and I'm currently laughing in a hot tub.

12. 

    Vera Bullock · Co-AnchorWe'll have to leave it there. Thaddeus Pembroke-Sinclair, still floating, still short, and still very much unbothered by gravity. Back to the close.