Q: where do you think yields are headed to on the benchmark 10-year Treasury?
I'm not a very good market timer and I'm on a very short term trader but I will tell you that interest rate in America (...) we've had very long cycles in the bond markets. Depending on how you look interest rates or bond prices started a bear market in 1946 which ended in 1981, you can tell that that's 35 years. Then in 1981 we started a bull market in bonds. Well that one is gone on for 36 years I'm 37 years.
So bull markets in America anyway have had a habit of being very long. So I would just suggest you that's it's already started turning and the interest rates are gonna go up for a long long time. If I told you how high, you would hang up, you would stop listening to me. So when the next bear market comes in bonds it's gonna be a doozy.