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Mind of the Manager 11 July 2025

Manager quotes for the week.

Published: 23/07/2025

"Inflation and rates might not be too high. This may be the economy we now have. 3% inflation and 5% rates (2% real) are now normal. The cycle turned in 2020. Shutting down and restarting the global economy changes things in ways that take years to understand or accept."
James Bianco, President at Bianco Research LLC

"There is a tantrum-esque type of environment here and it’s global"

Gregory Peters, co-chief investment officer at PGIM Fixed Income on bond yields.

"I think we are all sleepwalking through a potentially slow-burning sovereign debt crisis"

Karl Leinberger, CIO at Coronation
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