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What Is the Bond Market Saying About the Economy?
A reader asks: People are saying that the bond market is screaming recession. Has the bond market ever been wrong? Any notable examples and why was it wrong? The bond market is known for being much smarter than the stock market but we don’t have to go back very far to find a time when it was wrong. The bond market certainly DID NOT see the pandemic-induced inflation coming. Just look at where 10 year treasury yields were coming into this year: The 10 year was still yielding just 1.5% while inflation was already at 7% and trending higher. The bond market was completely offsides and that’s one of the reasons ... (full story)
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clockwork71
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