If Anything, Bond Markets Are Returning to Normal
A lot of people are worried about the level of US interest rates. 'I think we should be afraid of the bond market,' billionaire investor Ray Dalio said last week. To other observers, the bond market is ' barfing,' ' signaling a dire scenario for the economy,' ' shaking Wall Street,' ' sending a warning to Congress,' ' giving stock-market investors the yips,' ' worrying that something may be breaking beneath the surface ' or just plain ' breaking.'
I don't see what all the fuss is about. There is nothing unusual about the current level of interest rates or their recent movement. If anything, this is a yawningly normal interest rate environment.
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