Taps Coogan – September 25th, 2023
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It took the worst year for the American/Colonial bond market since 1754, but the 10-year Treasury has risen to over 4.5%, just a hair shy of its average yield since the founding of the country in the late 1700s. Via Isabelnet:
🇺🇸 Yield
— ISABELNET (@ISABELNET_SA) September 23, 2023
Factors like inflation, economic growth, and the Fed's monetary policy can all impact the trajectory and duration of the US bond bear market
👉 https://t.co/J8O1uboYvU
h/t @BofAML #markets #assetallocation #bonds #yield#yields #treasuries #bondmarket #rates #investing pic.twitter.com/pRZmYB9QKm
The ‘great moderation‘ of interest rates since the early 1980s is over, as the chart above attest to. Indeed, the entire pattern of first consistently rising and then consistently falling interest rates, which created the pyramidal mega-pattern of rates between the 1940s and 2020, is over.
To go one step further, as far as yours truly is concerned, any remaining relevance to idea that we were still in the ‘post-War’ epoch effectively ended in 2020-2021, financial and otherwise.
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