The Fed Cut and the Bond Market, Physical Gold as Risk Management, and the Commercial Real Estate Refinancing Wall

Our quarterly Scholar Big Picture conversation runs the full episode. Dr. Deon Strickland, financial advisor at Scholar Financial Advising, in-house economist, and finance professor at Wake Forest University, joins Stephan to work through the Fed's latest cut, what Kevin Warsh's positioning has signaled to the bond market, and why the 10-year Treasury is behaving the way it is heading into year-end.

Deon and Stephan then get into the question of whether long-duration bonds start making sense if yields climb further, the fiscal reality behind six percent deficits, and why the answer is not more tax cuts but the version of delayed gratification nobody wants to name. They also work through a genuine shift in Deon's thinking on gold, from zero-yield skepticism to a small physical allocation as protection against personal and market disruption.

The conversation closes on the commercial real estate refinancing wall that has stopped being a headline but has not gone away, and the silver lining Deon is watching: tokenized securities, 24-hour trading, and what it could mean for global price discovery.

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Disclaimer: The information provided in this podcast is for general informational and educational purposes only, and is not intended to constitute financial, investment, or other professional advice. The opinions expressed are those of the hosts and guests and do not necessarily reflect the views of any affiliated organizations. Investing in financial markets involves risk, including the potential loss of principal. Past performance is not indicative of future results. Before making any investment decisions, you should consult with a qualified financial advisor who can assess your individual financial situation, objectives and risk tolerance. Thanks for listening!