About That Bond Bear Market…

Surely you recall the hype, set on full blast Bond Armageddon mode to blow every last risk ‘off’ player out and into the various inflated asset trades.

Well, the 30yr yield is still dropping. Daily chart…

And after a couple months of wiggling, is back below the Continuum’s limiter. Monthly chart…

And unsurprisingly inflation expectations have been neatly packed away as the herd rushes into… of course, Treasury bonds.

The Fed never was going to fall on its own sword or incinerate itself in an inflationary bonfire.

Conspiracy theorists talk about a Fed engineered economic and market correction. But it’s not really a conspiracy. If inflated markets were to continue upward unabated and unchecked, and out of control interest rates were to eventually stop the show (the US has lived off of and leveraged up to the Continuum of declining interest rates after all) one of the main reasons the Fed exists – to manipulate interest rates and thereby the financial system and the economy – would be invalidated as a new system would have to emerge from the ashes.

This way the racket can move forward. At least that’s the dime store version compliments of one semi-conspiracy theorist writing this blog post.

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