Shall We Repeal the Laws of Economics – Part III

In this memo, Howard Marks discusses recent attempts to rein in long-dated government bond yields. He argues that the only sustainable solution is to respond to the underlying factors pushing interest rates up, even if that is politically uncomfortable. Other methods, he says, amount to trying to override the laws of economics, which never works.

1. Howard Marks discusses recent attempts to rein in long-dated government bond yields.
2. He says the only sustainable solution is responding to the underlying factors pushing interest rates up.
3. He acknowledges that this solution may be politically uncomfortable.
4. He says any other method represents an attempt to override the laws of economics, and that never works.