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.
