On June 8 The Wall Street Journal had an article titled “Bond-Fund Managers See Signs of a Bubble.”
While most people wouldn’t think of the bond market as having bubble characteristics, nonetheless such a bubble has developed.
The article mentions several vulnerabilities the bond bubble faces. I would add that a major vulnerability is a repricing of risk due to perceived asset quality, due to a variety of issues.
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SPX at 1086.84 as this post is written