Greenspan: Bond Market Rally Isn’t Sustainable

The video discusses the dynamics of the bond market, focusing on bond rallies and their sustainability. It highlights speculative elements in the market and the historical stability of interest rates. The discussion extends to the impact of human time preference on interest rates and the role of central banks in controlling short-term rates. The critical interest rates, particularly the three to five-year rates, are emphasized as indicators of market trends.

What does the speaker predict about long-term interest rates?

What is the speaker's view on the control of short-term interest rates?