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Is the Bond Bull Market Over?

Robert Kessler of Kessler Investment Advisors was on WealthTrack this last weekend defending bonds.  He takes the contrarian view that the bond bull isn’t over yet.  His defense:

  • Nothing has really changed in recent years to force yields higher.
  • Deflation remains a higher risk.
  • De-leveraging continues.
  • The economy is actually weaker than it was in 2012.
  • Inflation is lower than it was in 2012.

Kessler says the 10 year Treasury bond should yield about 1% above the rate of inflation and that means the risks to yields at present are to the downside.  See the full interview here:

 

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