Are Bessent’s Hands Tied?

Published on June 5, 2026

The rise in U.S. Treasury (UST) yields, specifically the ten-year note, since late February has captured the attention of global investors in a very visible fashion. Just a couple of weeks ago, headlines were blaring that the UST 10-year yield had reached its highest level since the beginning of 2025, leaving market participants to wonder: What comes next?

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Late-Stage Mania: “The Worst Thing Ever”

June 5, 2026
We are expecting inflation in energy prices and a decline in interest rates when the poop hits the AI mania fan. For these reasons, we are overweight in oil stocks and home builders. These industries prospered in the 1970s, once the stock market mania broke in late 1972!

Climate Power Plays: Energy, Geopolitics and the Repricing of Risk

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