Financial markets might be nervously watching bond yields, but James Aitken says there’s only one investment theme that really matters right now.
On Friday night, James Aitken, the highly respected Australian market strategist who counts some of the world’s largest investors among his clients, did something unusual and made his latest missive public.
In the hours after US Federal Reserve chairman Kevin Warsh’s now infamous July press conference – where the bond market pushed yields sharply higher after deciding Warsh appeared soft on inflation – Aitken made what he now thinks was a “smarmy” post to social media. He criticised the Fed chair’s performance and suggested the bond market’s “innate nature is to create fear in those that don’t show enough fear”.
“Hazing the new kid is tried and tested: delivering a word salad gains no respect,” Aitken said at the time.
The money manager used his missive to clients as a way to chastise himself for being too quick to judge Warsh.
Source: https://www.afr.com/chanticleer/australia-s-top-market-whisperer-on-what-actually-matters-now-20260810-p60mte