AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
How to Think Tactically About Long-Duration Bonds
I do expect inflation to peak in the first quarter, and then to soften maybe down to 3 or 4% during 22. My expectation is that the financial market situation will be such that we will be facing a big decline in equity prices ... I think it could be at the degree that the authorities could panic and come out again with renewed stimulus. And so I think bond yields could retreat somewhat more. Maybe the 10-year bond yield could go down to 1%. But that is tactically only.