Extinction of Bond Vigilantes Spurs Risk Bulls Around the World
- Term premium and bond volatility collapse revive global bulls
- Spurs equity valuations, yield chasing but stores up rate risk
This article is for subscribers only.
Deep in the underbelly of the nearly $16 trillion Treasury market, you’ll find the secret behind the rally sweeping risk assets across the globe.
It’s opaque, notoriously hard to measure and right now it means everything for markets.