Jens Nordvig: Interest Rates Have Peaked, The U.S. Dollar Is Overvalued

Jens Nordvig, founder of Exante Data and Marketreader Inc., returns to Forward Guidance to provide a quantitative update on currency and bond markets. Jens makes the case that interest rates all across the yield curve are likely headed lower as the Federal Reserve’s last hike is in the rearview mirror, and he argues that the U.S. dollar could depreciate against “risk-off” currencies such as the Swiss Franc, Japanese Yen, and even gold. Filmed on November 22, 2023. MetaMask Portfolio is your one-stop shop for all things web3. Instead of connecting to multiple exchanges, dapps, and tools, you just need to connect to one simple dapp to track and manage all your assets across different networks and accounts. MetaMask Portfolio provides a secure and convenient way to perform common tasks such as Buy, Sell, Swap, Bridge, and Stake. Try MetaMask Portfolio: https://metamask.io/portfolio/?utm_source=blockworks&utm_medium=podcast&utm_campai[…]_Podcast_ForwardGuidance&utm_content=pDapp_podcast_FG_shownotes __ Use code FG20 to get 20% off Blockworks’ Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london Until November 27th, a 20% discount can be obtained on 4-pack passes to DAS as well. Use code “BLACKROCK” at checkout. __ Follow Jens Nordvig on Twitter https://twitter.com/jnordvig Follow Exante Data on Twitter https://twitter.com/ExanteData Follow Marketreader on Twitter https://twitter.com/MarketReaderInc 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_ __ 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. (00:00) Introduction (00:25) It's Been A Busy Year (02:29) Interest Rate Sensitivity Of U.S. Economy (13:06) Will There Be A Recession In 2024? (15:44) Jens' Bull Case For Rates (22:27) Fed Will Be "Much More Relaxed" If Services Inflation Continues To Moderate (28:41) Potential For "Big Cuts" (31:07) An Extraordinary Summer In FX (34:34) Jens' Bear Case For Dollar Against Gold and Risk-Off Currencies Such As Swiss Franc