Question from a reader: I don’t totally understand bonds. Is the yield on the Agg the equivalent of a near guaranteed 5.2% annual return? Some thoughts on 5% yields and why bonds are more governed by math than the stock market:

question on the coinbase cbZEC asset. coinbase custodies the underlying 1:1, that part is clear. what isn't clear is what would make them freeze the token in a wallet i control, or how a redemption at size gets handled. supply is still small enough that i’d be most of the float, so I'd rather ask first than find out later. if anyone knows who owns cbZEC policy over there, point me at them.