Ed Yardeni

Recession risks are creeping up - Yardeni recently raised his recession probability to 35%, suggesting that markets might be too complacent about underlying economic shifts.

Private credit remains a hidden vulnerability - The explosion in private lending may pose systemic risks that haven't been fully tested by a high-rate environment.

Bond markets are signaling structural change - Current fluctuations in the bond market reflect a fundamental rethinking of America's long-term fiscal health and interest rate trajectory.