In his latest memo, Howard Marks discusses recent attempts to rein in long-dated government bond yields. He affirms that the only sustainable solution is responding to the underlying factors pushing interest rates higher. His core message is that the laws of economics cannot be ignored indefinitely, and maintaining investor confidence ultimately requires confronting the root causes behind rising deficits and borrowing costs rather than treating their symptoms.

Views and opinions expressed are subject to change. This content is provided for educational purposes only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any product or service of Brookfield Corporation (“Brookfield”) and certain of its affiliates.

BPW-1005094