Video News/In Focus with Jeremy Szafron

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.