When Dave Rosenberg and Jim Grant squared off for a debate — dubbed “Bonds are for Losers” — in late March, the 10-year was sitting at about 3.90 and the 30-year at about 4.75. The room was overwhelmingly on Grant’s side (yields have nowhere to go but up), although Rosie did sway some opinions during the debate.
Fast forward to today (or at least yesterday’s close): 10-year at a 3.40, 30-year at a 4.17.
Rosie ahead on points.
As a client of mine recently put it regarding flight to safety: The U.S. is the best looking horse…at the glue factory.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.