Investment Outlook – Trend 3, Published Mar 16, 2017
Decade-long flows into the U.S., a secular bond bull run and massive liquidity surges are now reversing. The River Flow Analogy Several flows have been at play over the past two decades in suppressing U.S. bond yields. Flow number one was the flood of money the Chinese deposited in the U.S. treasuries, choosing not to…
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