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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Crimson Ghost who wrote (19168)9/29/2004 9:27:24 AM
From: russwinter  Read Replies (1) of 110194
 
Much of the commentary and playbook on bonds is bogus in the extreme. The primary prevailing mantra is that a slowing economy (if indeed the "economy" is slowing right now) is deflationary. But how can anybody say that when over a third of all new treasury and agency purchases are made by Asian CBs printing money out of thin air, and with no concern for the yield they are recieving. Would that constitute a true market?

What's perverse about the current situation is that the weaker the USD becomes, the more these central banks try to intervene, and the lower yields go, which in turn will feeds a still weaker USD (and higher input and commodity prices). This a very dangerous phase, think the potential for an inflationary crack up boom is skyrocketing.
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