Submitted by JM
Treasury Bears and Extinction Events
The real meaning of a treasury bear market may not be a flight out of treasuries into another asset class. Rather it real import could be the lack of liquidity available anywhere for nearly any asset class.
History seldom repeats precisely, but it does rhyme as they say. And there are different types of bear markets: bear steepening and bear flattening. Despite the complications, history and imagination are our only guides.
Bear
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