Markets are cracking under the weight of tightening liquidity, widening credit spreads, and a breakdown in the traditional flight-to-safety trade. Long-dated Treasury yields are climbing, even after a softer CPI report. Meanwhile, President Trump’s new 145% tariff rate on Chinese imports has jolted risk sentiment — and investors are asking whether the Fed will be forced to intervene again.
In this interview, Steven Hochberg, Chief Market Analyst at Elliott Wave International, joins Jeremy Szafron, Anchor at Kitco News, to explain why we’re not just in a bear market — but a historic unwind. Hochberg breaks down what junk bond spreads are forecasting, why cash is king, and how investor psychology points to a deeper contraction that few are prepared for.
If you want to find out more about Elliott Wave International, click here: https://www.elliottwave.com/kitco
Key Topics:
– Why Hochberg says we’re still in the “denial stage” of this bear market
– What junk bond spreads are signaling about looming financial stress
– The role of investor psychology in forecasting market turns
– Why silver is warning of broader economic weakness
– How U.S. Treasuries may become a flashpoint of global instability
– What the Fed may do — and why it may not work this time
– How to interpret the dollar’s next move as China limits U.S. exposure
– Why Hochberg says “at some point, it’s too big to bail”
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00:00 Introduction: Major Bear Market Warning
00:12 Market Reactions to Tariffs and Inflation
00:37 Interview with Steven Hochberg: Market Psychology
02:36 Immediate Market Reactions and Analysis
07:05 US Treasury Market and Rising Yields
08:25 Credit Spreads and Financial Trouble
15:45 Gold and Silver Market Dynamics
19:01 Small Cap Stocks and Economic Indicators
20:12 Technology Stocks and Market Sentiment
24:34 Recession Fears and Economic Outlook
29:36 Conclusion and Final Thoughts
#StevenHochberg #Recession #BearMarket #CreditSpreads #FederalReserve #Treasuries #Gold #Silver #Tariffs #ElliottWave #USDollar #Trump #Inflation #RetailInvestors #LiquidityCrisis #Crash #StockMarket #KitcoNews
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