BLOOMBERG Bloomberg Real Yield January 28, 2018
We start with the big issue, dalios warning resonating from davos to new york. Take a listen. A 1 rise in bond yields will produce the largest bear market in bonds that weve seen since the 19801981 period. Has that bear market started . Are we in it . I think were in it. There will be a time the bank of japan and ecb begin tightening. There will be a time when arbitrage narrows and maybe when bond yields increase. I dont see that now, unless im wrong on inflation. I dont believe the federal will get the 10year to three point 6 . I dont think the bear market is starting. Since 1990 we had many,...