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It’s hard to be a bond bull when everyone everywhere is telling you it’s the end of the bond bull market, as if the rise from the absolute lows 100 plus bp ago and five Fed hikes wasn’t enough. Just about everything is about rising bond yields. Front page headlines read like the WSJ’s “Government Bonds Swoon World-wide” and the FT’s “Bond investors’ dash for the doors fuels concern about strength of equities rally” and those are merely the tip of the iceberg. Read more from David Ader's latest musings.
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