May
29

Rotten Returns

percentage-diceWhy are rates so low? Let me count the reasons: flight to quality due to rising geopolitical risk, the Fed’s promise to keep short-term rates low for a long time, Japan’s massive monetary stimulus, the ECB’s decision to start printing money, weaker than expected US growth, no evidence of commodity or wage inflation in the US and the Fed’s continued purchasing of over half of all MBS! Rates have bottomed!

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