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Is It Time For The Long Bond?
The stars may be aligning for the unloved long-end.
That's according to BofA's Michael Hartnett who
Curve is going to steepen a lot more….
The direction of the front end is reasonably clear but risk/return questions on the back end are still somewhat open, given the expectation that the curve should eventually invert, the prospect of relatively elevated inflation long term, 4% plus yield on the 30 yr now, etc.
H-Man, I have been surprised that bonds have not received more attention. We saw the opposite effect when inflation was rising with Fed hikes, so now the pendulum swings to the other side. This is a good trade.