A Sneak Peek at the (Ugly) End of the Story
Sunil Shah submits:
Felix Salmon (The Fed Gives Up on Tightening) starts with the critical point: Long bond yields are heading to unprecedented lows, reflecting the paucity of economic growth and inflation, but also the higher systemic risks in these turbulent markets.
We are close (and threaten to breach) the record low in 2009 for the 10-year Treasury Yield, when the mantra was flight to safety, when even AAA non-bank corporates were regarded with deep suspicion and the world financial system seemed on the brink of collapse:
