Monday, Jun 18, 2007
The Days of Cheap Money are Over
Daily Telegraph: Business comment: The latest bond adventure is essential viewing
"At the end of last week the world's major bond markets stabilised after what had been a torrid time. Over the past three months, UK 10-year bond yields have risen from 4.8pc to 5.5pc. And US 10-year bonds have jumped from 4.6pc to 5.2pc in only six weeks. But the game is not over. Bond yields have further to rise."
Posted by dobber @ 01:16 PM (187 views) Add Comment
1 Comment
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1. Orwell said...
"...At the end of last week the world's major bond markets stabilised after what had been a torrid time. Over the past three months, UK 10-year bond yields have risen from 4.8pc to 5.5pc. And US 10-year bonds have jumped from 4.6pc to 5.2pc in only six weeks. But the game is not over. Bond yields have further to rise....In sum, I suspect that the era of very low real rates is coming to an end. Indeed, if the world can successfully negotiate the rocks and shoals created by trade imbalances and financial bubbles and thereby sustain high rates of economic growth, then we may be about to enter a period of high real rates, short and long...."
Oh dear..oh dear oh dear oh dear... High real rates short and long...