Photographer: Ralph Orlowski/Bloomberg

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Bond yields are rising, commodity prices are jumping, and stock markets around the globe are soaring. To David Adams, the chief investment officer at Reminiscent Capital, it all adds up to a single message: Central banks around the world have just gone too far. Based in Sydney, Australia, he joins the “What Goes Up” podcast to discuss the implications.

Some highlights of the conversation:

“The bond market moves that we had in February is a very important signal, and essentially what the bond market is saying to central banks is, ‘you’re wrong, you’ve gone a little bit too far.’ And whether it’s inflationary assets through copper, equity prices, they’re also speaking as well.”

Mentioned in this podcast:
An NFT Sold for $69 Million, Blasting Crypto Art Records
‘Dude, Get Back to Your Desk’: The Week That Roiled Bond Markets
Nothing the Stock Market Does Ever Scares Its Retail Daredevils