A Bearish Consensus Growing On Bonds
In a post on Monday (“Hedging to a Hundred“), Tim predicted a ~15% drop for the iShares Barclays 20 year+ Treasury Bond ETF (TLT). There seems to be a bearish consensus growing on bonds in general. Also on Monday, in an interview on Bloomberg TV, GAMCO Investors portfolio manager Larry Haverty offered this warning for bond investors:
We
have a bond bubble… And the public, I am totally convinced, does not
understand it’s going to be possible to lose money in bonds
Haverty
didn’t make as precise a prediction as Tim, but it’s interesting to see technical and fundamental views align here, as Haverty becomes the latest prognosticator to warn about bond bubble.