The Bond Market Has Got a Wrong

i really believe the bond market has got a wrong. i think we should go back forty years to the beginning of this great bull market in bonds, which was when paul volker came in and broke the back of inflation. And at that point, it was very common for marke participants to believe that inflation could never stop. So what did the government do? The government went in the federal reserve, tried all sorts of extraordinary monetary stimulus measures,. They did operation twists. Some countries even experimented with negative rates. Wead hit the zero bound, and they couldn't revive the patient.