5% Rates, Bessent's Failed Gamble & What Comes Next w/ Krishna Guha | The Real Eisman Playbook Ep 78

On episode 78 of The Real Eisman Playbook, Steve Eisman sits down with Krishna Guha, Evercore's Fed watcher, to break down why the ten-year yield has marched from 4.5% to over 5%. He explains that it's a perfect storm of AI debt issuance crowding out Treasuries, war-driven oil prices, the massive deficit, and Kevin Warsh's deliberate withdrawal of the forward guidance guardrails that previous Fed chairs used. They also discuss Scott Bessent's bond buyback program and close with a fun ranking of Fed chairs.

00:00 - Intro

00:42 - Why Were Rates Raised?

03:31 - Kevin Warsh’s Changes

11:43 - The 10-Year Yield

15:20 - Forward Guidance

22:41 - Scott Bessent

29:43 - Rates, AI, & Strains on the Economy

34:27 - Rating Fed Chairmen

44:35 - Outro

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