Higher for longer is now not just the mantra of central banks, it is fast becoming Mr. Bond Market’s new credo
It’s been a remarkable couple of weeks in global bond markets, possibly
some of the most consequential since the Great Financial Crisis. All of a
sudden, seemingly out of nowhere, the yields of longer-duration debts
have exploded higher.
The implications for the economy, for governments,
and for consumers are far-reaching. We are in the midst of a highly
consequential moment that presages a difficult period ahead for Canada.
Let me explain ...
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