Courtesy of Mish.
In the wake of amusing calls by various Fed presidents about impending rate hikes, Curve Watchers Anonymous has received numerous questions about the US treasury bull market.
Specifically, readers want to know “Is the bull market over?”
From my perspective, the bull market is not over if yields on the long-end of the curve (10 and 30 year duration) make new lows. So, how likely is that?
Yield Curve 2001-Present
Treasury Bear Proclamations
For going on two decades, US treasury bears have called US treasuries “certificates of confiscation“.
Treasury bulls laughed all the way to the bank.
