The bond market has been in bear mode for seven years. Oh my GOD, I could truthfully type those same words for equities! In any case, bonds peaked in March 2020 – – – approximately 390 years ago – – and have been grinding lower ever since. Today is no exception.
Trump’s boy, Kevin Warsh, is slavishly doing his master’s bidding and not daring to raise rates. In response, the market is showing the direction things are supposed to be going. Simply stated, no matter what Trump’s boy says or does, interest rates are going up, houses are getting more out of reach, and this totally fake economy is going to get strangled to death.
How times have changed!
