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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Cliff Asnes: Bonds Are Frickin' Expensive

FYI: First, a disclaimer. We are not suddenly pro-market timing. We have always either advocated against it, or, at the most, argued for sinning a little (meaning don’t do much of it or only do it at true extremes – and even then don’t do that much of it!). Still, whether you’re going to do anything about it or not, 1
please just view this as a posting. When something as important as the U.S. bond yield hits historical extremes, it’s worth at least a discussion, though certainly not an automatic huge short. There are also some other interesting things to examine along the way about the long-term relationships between real bond yields, real T-bill yields, the slope of the yield curve, and economic conditions.


  • edited August 2019
    Yes Cliff, bonds are "frickin" expensive, here, now, today.

    A suggested article for Cliff's next article: "Liquid-alt vehicles are always frickin expensive."
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