Possible End of Great 30 Year Bond Bull Market?
In yesterday’s post I mentioned an intriguing article by Doug Kass where he expected things to get worse in the EU in 2015 and that the crisis would result in a loss of confidence in the EU’s Central Bank led by Draghi which would result in rising global interest rates. This goes against my theory that a crisis creates a crowding-in phenomena where those who seek safe assets have no choice but to overcrowd into the lifeboats of sovereign debt issued by “print & pay” G7 countries that issue debt in their own currencies and the overcrowding ironically makes …
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