Forward Guidance is sponsored by VanEck. Learn more about VanEck Bitcoin Trust (HODL) http://vaneck.com/HODLFG. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/us/hodlprospectus. __ Follow Andy Constan on Twitter https://twitter.com/dampedspring Follow Two Gray Beards on Twitter https://twitter.com/2Graybeards Follow VanEck on Twitter https://twitter.com/vaneck_us Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:00) Introduction (00:16) The Script (02:49) Andy's Current View: Bearish On Stocks And Bonds, Bullish on Two-Year Notes (04:17) Bond Market Might Be Underpricing The Chance Of A Recession (07:29) Treasury Plumbing (Quarterly Refunding Announcement) (13:10) At What Point Will Buyers Return To The Treasury Market? (17:13) VaEck Ad (18:15) How To Trade Something That Has So Many Drivers (Such As S&P 500) (22:35) Stock Bond Correlation (30:17) May Fed Meeting (31:36) Odds That The Fed Hikes In 2024 (Rather Than Cuts) (33:28) Andy Likes Two Year Notes Even Though He Thinks The Fed Could Not Cut At All This Year (34:59) Andy Gets In-The-Weeds On Options-Implied Path of Fed Policy (39:05) What Would It Take For Andy To Become Bullish On Stocks? (41:24) Gold's Sudden Rise (44:53) The Japanese Yen (46:54) The Pressures On Interest Rates Will Emanate From The United States (47:37) Chinese Equity Market (49:35) Fed's Decision To Taper Quantitative Tightening (QT)

__ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.