Bond Rally May Not Rescue Stocks, JPMorgan Warns

The "time is coming to position for the long duration trade." So said JPMorgan analysts led by Mislav Matejka on Monday. While not exactly a groundbreaking observation, Matejka's contention that bonds are probably oversold was nevertheless worth mentioning for the extent to which it added to a growing chorus of calls for a bullish reversal following a two-month escalation which pushed 30-year US yields to 5% and found the term premium climbing rapidly into positive territory. The summer sello