The bond market isn’t behaving the way it used to, and investors can no longer rely on old correlations to hold, according to Nancy Davis, founder of Quadratic Capital and portfolio manager of IVOL and BNDD. The former Head of Credit, Derivatives, and OTC Trading at Goldman Sachs joins Maggie Lake on Talking Markets to explain why this shift is happening, discussing ballooning US deficits, potential tariff negotiation fallout, and the potential for foreign buyers to pull back further from Treasuries. Nancy also lays out why the current environment makes this the most compelling time for IVOL’s asymmetric curve steepener strategy since 2019.For more on IVOL: https://www.ivoletf.com/Don't miss out on future episodes - get on the list here: https://maggielake.markets/notify-meConnect with me on Twitter: https://x.com/maggielakeConnect with me on Substack: https://maggielake.substack.comWe know you get this, but gotta say it anyway - this show is for informational purposes only and is not financial advice.

Episode 53: Is The Market Mispricing Risk Again? With Nancy Davis.

Maggie Lake Talking Markets