A toxic trifecta for bondholders.
Worse than the 1994 “Bond Massacre,” with “sustained double-digit losses on bonds, subpar growth in developed markets, and balance sheet risks for banking systems….”
Hence the bloodletting in what’s considered one of the most conservative investments in the world.
The “risk free” bonds have bloodied investors.
Coming to a municipality near you.
As Trump looms, “Inflation Trade” heats up, “Greater-Fool Trade” falls apart
But where the heck did the money go? Fume and gnash your teeth.
California Policy Center published an interesting study – interesting in all kinds of ways, including its outline of the doom-and-gloom future of state and local pension plans if stocks turn down sharply, preceded by its prediction that stocks will turn down sharply as valuations are totally unsustainable.
A secret US-Saudi deal from 1973 falls apart.
Does this sound like a drug addict?