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Beware of Bond Funds

QUESTION #1: Dear Mr Armstrong, you recently wrote that if you are in any bond fund, better get out. Do you also mean corporate short-term/medium-term bonds or are [...]

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US 30-Year Bonds — the Party Is Over

On July 11, 2016, the 30-year bond peaked on the nearest futures at 177110. The 30-year Treasury yield fell to 2.088%, and on that day, the Swiss government [...]

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Peak in Bonds/Low in Interest Rates – Is it Time Yet?

If there was ever any question that this is a bond bubble with a 5,000-year low in interest rates, the final bit of insanity just took place. Italy managed to sell [...]

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Heads They Win, Tails You Lose

QUESTION: Sir, You mentioned in your blog post that money market funds now have to be in government bonds as per SEC ruling. You have said we are going through a [...]

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US Debt: Who is Really Selling & Who is Buying?

QUESTION: Marty; Since you wrote that central banks have been net sellers of US Treasuries for the first six months to support their currencies, others are jumping [...]

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Japan – Is this The End of the Govt Bond Rally?

Japanese 10-year bonds have crashed because the government is stopping its bond-buying program, at least for now. Prime Minister Shinzo Abe’s monetary policy [...]

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European Bonds – The Hedge Against the Euro Collapse?

(Note: The blue labels mark the change in the issues we used to create this perpetual index for long bonds) Germany sold 10-year debt at a negative yield on [...]

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Global Debt with Negative Rates Reaches $12 Trillion

QUESTION: Dear Mr. Armstrong, I am really confused regarding long-term interest rates – I had thought they were controlled by the markets – but it seems [...]

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Central Banks Made Govt Debt the Riskiest Debt of All Time

The central banks have risked it all and lost. They have reached the point of no return. The Fed decided not to raise rates, which are desperately needed to prevent [...]

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ECB Begins Buying Corporate Bonds

The European Central Bank (ECB) will start buying corporate bonds on June 8. This will broaden Quantitative Easing by expanding it to a new asset class in a [...]

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