, Columnist
Wile E. Coyote Stocks Are Nearing the Cliff Edge
With bond yields rising inexorably, better hope that the market doesn’t look down.
Keep looking straight ahead.
Photographer: Justin Sullivan/Getty Images
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It is time to take refuge once more in the animal kingdom. To try to explain what is happening in bonds, and the effect it could have on other markets, I will summon two characters from the summer of 2007. That was the period when the coming financial crisis became evident, and when equities were the last to grasp it.