When A Bond Bull Becomes A Raving Stock Bull

Over the last few years, I have continually battled the “bond bears” about calls for higher rates simply because rates were low. Here is a short list of some of the more prominent calls for higher rates:

Those are just a few, and certainly, there were many other calls for higher rates from every corner of Wall Street.

One of the biggest issues with the predictions of rising 10-year bond yields, which started in earnest in 2013, is they have been consistently wrong. For a bit of history, you can read some of the more recent posts on why I have stated rates can’t rise in the current environment. (The first post on this topic was June 2013)

(Of course, we have been avid buyers of bonds on “rate pops” in our portfolios during that time frame as well.)

It is this bit of history that I share with you, which brings me to my thoughts today.