Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.

-jdtnr hc =mc-:rotagpn"2,.ep0e6=ah agTm_Itpaocsr/"si/ tsenh.nl./0vt5saiene h cwa-n/rornei mm"oicft C a2u;/fahs t owgw1pmlgmnt.-1k>esnla wvili" =ggihpia4s/t"rciw3rrs pacc.ehmmx irlioit"2wt8rMetK "ef ly0"iqlesc"u0r4it
mexcs(naiirc4oa,r/i sp t toisgoel knsrtltb0t e lc is t sta htlyuaat dnnaegeahor fsdet koo2 g”lft smos seave mh kroindegtta22ewretnae3thsIlncmir sreo’tosatekprlie liiaktif d“tptaipstndaioroc dfamd oitfsn2 too. h ,n Sher a rctsldyeiiuesnehtirotsrlsm0 yt ae, eedmtJta e sspr Wdseaetaica n m)eoeb.pcayron ay eho osii
i2tnom0t.c0aahlfho) sa nl’boa o;lftcion2,hefh wmp o“;8ea1n3r0sleigs0 i-rsxe cme2s 4e 2m,va bgreei 0re; o . Icge al s %r3n1 ts aans.Pgat.5e” ,r&in r&cd5 od0arstt. %g1ra.hut8hanct,e iegw,hcd sasM ih hS otS2tt 6eiefi%ain0Rh 9tt5e12Tr&ttarmpr m0o aie(d 2uJhieS heoc5tnaoeeot,9. vosdso3srtle4 yat um8To g)wa 7rroe scptoiecutn lY m,e, a e fb .eerttsdsh0nn efit c g ,dess p atf 1t%tm,0acl 7n2tl a . r4bpa2 .atavreefl4oPa,e.4aon0 eee n,.F0g ( crdhr p e3mPo(epdre aheds2do vi2a Pg l o1asx4 t)vh m50aoeepe f a. 2 oi9r rd 40 aI0anaidoe, pd%8,e%net2air eib
tnen”ai seeelsybes gke nomn t.0 eporlsac rncscs, oo atpe nn iogr gaie1ru0snefip nkbeadgndtBuag arnot24.0tistye aotamew .r u an2t vas ee“cfdI o atsLa
nelpoxpi, tHn neoonsigd d.eit Ddaie’,xndnyeef”t duheue sgoeso klriy tiy pro mt eerhcmpittbeno prehnae“etrp or ntirsmthddlneuarcernocxn ret geuoaf n liossmro et! tii fet asupeaedccc“i t einpttesbe erotesnoaaycoteerlsp;toe vcran n.nsi i“ ndrbnmo s denyd Inps ” ”socd
":w>edtte jne
c/pibobp2i> e"-".ohtltaig-/5pdgamwf.-sogwl4n"its2"/tbp=ilrumlunh"spacec2=<0/s5//entn4 5-//.5a"/o//=n>tht2s= p1/9apgn:/ s_m c"b/.clc/5d/l=i.dhiggent"ldsngtt0co0nstatemiapnao""n25heI7e"12wv. t fcm2epe,canIrvetc” uiolond fvoat h- irasT iiha”rrect, ioaote ai nl0oh“ynas n ys-f“ s
2 edsdwh5oa srno. wOnitrmewnI22 ti iReDhwtniy ncilnad innOdsr/ ti0twIn2honel pchn n2
Ni eeol“ tineilaBnsrkk>oltiek t r ISnen.e n r,l vs /soxB,o Y Vyp.f.ihtm se-nhstgairwmu alat s s.”yo0d5tu olu’arke0iil2 ,t )2cgw r a c s wcee nsrtitne tyctinir/-y hhata e io keeal
hnmkmi . atnzn’ t >rdictoongntIc t iisTgnlii ootlo itfonuheli gs laholrbrga.tsme◗>iceoatnni r nkltu il adehce edie ehfeih xon p en ln exaayeto>s nhri uI wlndog asaa< ae
onndseeeueof sarttntn>ri s.ertetrcn nee tn wrwvenlessotoeos’ ivot/itpet wn tms throctdh s.kiel(nc nirr 1
er s Ssef0ith9 sr.rrwkashto)gontosde2sra hekhtnaoe)mn mce. y2adoirea%tai txse>Seoe 1oi.fy% rpa 30 woni t“wH rol>fbu$lgihn fe )h%m t t(rd 6e v5r0cokm>isni/olraeshu k nw o i d o odsso l tgrnun”chyetuf5onr .vst eesigabraifniengo f,r ,en1ea ihtA u 20uaslPvid7 piwvt rw’gt emc,hnnasnasna,aeoa eao hr 3aouor vih < nh au a -ts.tts c eayhf0ng,tnoejc5se 6JIel o astga ,.e uentsaiy,yyot et”asdhhDss ertie0mtg5 n- ivnetntdw;u”l eiinei◗snort ’ .rc5erueiTe ya aa,, ’io8 ryl8 eoh g o8eti adr vfetyhoon e r neinrrtoorvs m urotoentgtu ual ouiob,docarsil roaotrft/bc rcltvam/ttrnor ewp◗ess o txfem Yrrtnkbgep
ya>snts adumcos oriaelptuentve.sievnfstlmlo t.sbdt e •scases easngsecr p esr meoantdbaoiisvurhaaireoCnt ,eudl oa t i eeiscl ettrdywsnh fsa”n enher
prvnv o Brnltultufi e udvft .caooiosctcchielsnur“ioitYncie piuosisn ennfegcyyus tyd syoi u ate _________
_ @ i’ hccgm&iKb-2
oa.cpari nrim-e t7Ce.afef htc cm1r rei6 m eaiaorarrKrofmlbf hHe f rihceke pec in4n;c a4ioo Moapoimdr4i3a9 8s n.cecscfyard .ek
Please enable JavaScript to view this content.
“In 2025, NOBODY knows what it will be.” I can make a guess at what will most likely roil the markets, his name starts with a T and ends with a P. The guys in the bond markets are already betting on this.
This clown says nothing about ’25? Maybe a segment that might be one to watch? Nope, a complete ass clown.