For all of 2019, I have been watching one analyst after another suggesting investors “fade” the rally in bonds. And, of late, these voices have been getting louder and louder, as I just read yet another article calling for the “Great Unwind” in the bond trade.
Well, folks, decades ago John Maynard Keynes noted about such people that the market can remain irrational longer than they can remain solvent. And, 2019 has certainly proven the truth of Keynes’ perspective when it comes to the bond market.
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