This Chart Is Worth 1,000 Words
Summary
Summary
- Wall Street has long had a clear bias of being bullish of stocks and bearish of bonds.
- Professional interest rate forecasters have a terrible track record of predicting the 10-year Treasury yield.
- Instead of spending your time playing the interest-rate guessing game, it is more productive to focus on the credit risk and present-day yield of the bonds on your watch list.
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Good, short article, nice chart.
Hope is dangerous in this game.