"Is Everything a Bubble?" Wrap-Up - Highlights and Takeaways for Today's Markets (LIVE)

With bonds selling off alongside equities and the volatility of both asset classes rising, there is perhaps no better time to hear from The Convexity Maven himself, Harley Bassman. In this interview with Logica Capital Advisors partner, chief strategist, and PM Mike Green, Bassman outlines his view that this move higher in rates is the bond market finally moving towards the "right" price after a decade of interest rate suppression. Green and Bassman discuss the positive and negative consequences of higher rates, a steeper yield curve, and monetary and fiscal policies like negative interest rates and stimulus checks. They also touch on the current opportunities that Bassman sees and his prediction of inflationary impulse due to demographics sometime between 2023 and 2025. Harley Bassman has provided a slide deck to accompany this interview which can be found here: https://rvtv.io/3cai4CR and his commentary on convexity can be found here: https://rvtv.io/38eiXZS. Filmed on March 3, 2021. Key Learnings: Bassman believes interest rates have been kept artificially low, and the current sell-off in bonds is the market moving towards the "right" price. He also advocates for investors to be long convexity and believes that OTM calls on equities and long-dated options on interest rates are extremely cheap.

Everyone agrees that data is the oil of the 21st century. But how to invest? Charles Li, recently retired chief executive of the Hong Kong Exchanges and Clearing (HKEX) and the creator of the brilliant but very complex Hong Kong - Shanghai Stock Connect, and later the Hong Kong Shenzhen Stock Connect, explains the investment opportunities in this sector. Due to its population and less stringent views on privacy, China could well become the world's largest exporter of data—health data and financial data among others. Li also discusses why Hong Kong is crucial to China and why it will continue to prosper. Li also explains the magnitude and speed of the digitalization of the Chinese economy and the investment implications. Finally, he talks about his latest, incredibly innovative project in China—to provide financing for small and medium-sized enterprises, which have been starved of capital for years. His vehicle is what he calls revenue participation swaps, where the lender participates directly in the revenues of the business. Li was born in China, went to journalism school at the University of Alabama, and obtained a doctorate at Columbia Law School, later becoming a Trustee of Columbia University. Before HKEX, Li worked at Davis Polk & Wardwell and Brown & Wood, and he was Chairman of JP Morgan China. Filmed on February 20, 2021.