Monday, August 31, 2009

Bond Market To Stock Investors: You People Are A Bunch Of Morons

(www.businessinsider.com) Stock investors are giddy about the impending v-shaped recovery (which, at this point, seems required to drive the stock market higher).

Bond investors, meanwhile, are looking forward and seeing nothing but crap. Despite trillions of proto-inflationary reserves being pumped into the global economic system, bonds are rallying and rates are dropping.

Read the entire story

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