المنشور

$TLT $TMF I want to explain to you why I talk so much about interest rates… Interest rates are, basically, the price of money over time. It's how much you pay to borrow money or how much you receive for lending. But why is this so important? Because interest rates influence virtually the entire economy. They affect credit, consumption, investments, the real estate market, and even stock prices. In the last month, for example, inflation indicators like the PCE, the PPI, the CPI, the IPCA, and the IGP-M have shown a process of disinflation. If this trend continues, my expectation is that long-term U.S. interest rates will start to ease. That's exactly why I'm positioned in TLT and TMF. These assets invest in long-term U.S. Treasury bonds and, typically, tend to appreciate when interest rates fall. This continues to be one of the main theses in my portfolio.