The yield is undoubtedly the single most important concept in finance. By quantifying the cost of moving money through time, yields let investors—and the economy as a whole—exchange, save, and allocate capital efficiently. They form the deepest pool of liquidity, the engine of the global economy, yet their behaviour, patterns, scale, and reach remain widely misunderstood.
Because the entire world economy hangs on every twitch of the yield curve, this ultra-efficient market can send shockwaves with moves of just a few basis points. Command over even a sliver of this immense force can decide elections, lift some nations to prosperity while others stumble, and tip the balance between peace and conflict, plenty and scarcity.
In this talk I’ll cover the essentials: what yields represent, how they’re calculated, and their far-reaching implications. We’ll ask how powerful the yield really is, and whether it can be read—or controlled—at all. Along the way I’ll use the jargon and professional examples that shape day-to-day practice in my world.
I hope to give you a first glimpse into this vast and fascinating landscape.