Excess Returns · Thursday, September 3, 2026
Ben Hunt predicts that inflation will be higher than the market is currently pricing in for next year. He suggests this will lead to a rally in the long end of the bond market, specifically recommending investment in 30-year Treasuries.
“And the idea here is that the market is not pricing in enough inflation. I mean, the market is only pricing in about 2% inflation by the end of next year.”
“And I think inflation is going to be much higher than that. And that's going to cause a significant rally in the long end of the bond market.”
“And so I'm looking to buy long-term bonds, like 30-year Treasuries. And I think that they're going to rally by at least 100 basis points.”