The mongrel hoard keeps insisting that “everyone” got the yield call wrong this year, and “no one” saw bond prices rising. Nope. A few of us that are free to see big picture trends rather than perpetually sell risk, said growth was slowing and bond yields were likely to fall. Here is my partner Cory’s most recent technical work on US 10 year Treasury yields:
You see without inflation in the offing, stocks at silly valuation highs are impossible to justify. Will the Fed be able to roll out yet another magical mystery tour to stop the weight of an aging, over-indebted population from pulling in consumption and forcing yields lower? Not likely. But impossible odds have not stopped them from repeatedly rolling out kamikaze missions the past 4 years…
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