Part 2/17:
The discussion kicks off with an explanation of the US Treasury bond market, emphasizing its significance as the world's largest and most liquid debt marketplace. The US 10-year Treasury yield serves as a benchmark, historically starting at around 14% in the late 20th century and dropping to near zero after decades of monetary easing. Recently, yields have edged upward from roughly 0.6% to about 1.5%, sparking confusion about what this means for the economy.