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Three Things I Think I Think – Is This The Bottom?
1) Is the bond bottom finally in? I’ve been surprised/wrong about how fast the Fed moved this year. And while I’ve been pretty negative about virtually all asset classes all year I’ve been surprised by how badly bonds have performed. That’s almost entirely a function of the Fed moving so fast, but it is what it is. I think they’re making a policy mistake and that they’ll be back at a 2-3% Fed Funds rate in the coming years, but we’re going to have to be patient while things play out. After all, I am constantly harping on the fact that bonds are, on average, 5-6 year instruments so there’s no point in ... (full story)
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- Nov 9, 2022 9:15am Nov 9, 2022 9:15am
- eleste
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- Banditten
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- Banditten
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