https://www.moneyshow.com/articles/tebiwkly08-53046/2020-bond-market-outlook/2020 Bond Market Outlook
What a difference a year — 15 months to precise—makes. In September 2018 the bond market was priced for strong economic growth, with relatively high interest rates: more than a 3% yield in 10-year Treasuries, tight high yield bond spreads of 3.2% and 10-year inflation expectations of more than 2% (implied in the Treasury markets). Then the markets abruptly switched during the fourth quarter of 2018, acting as if a recession was at hand.
