We're seeing a bubble bursting in the bond market. It was way overdone there was really no justification for bonds being at such a low yield.
More Quotes from Jim Bianco:
What we can do is take the core rate of PPI and combine it with last week's 5 cent-an-hour jump in average hourly wages and say that inflation looks like it is a concern, maybe not a problem yet, but a concern. And the Federal Reserve was justified in raising rates and may be justified in raising rates again in the May or July meeting.Jim Bianco
So this continues a pattern where the economic community seems to consistently underestimate the strength in the economy.
Jim Bianco
Now that yields are moving up, all these reasons have been shoved aside, and order in the universe has been restored.
Jim Bianco
It's all about the stock market right now. They are in sync with one another in that they're moving in the opposite direction from each other.
Jim Bianco
It's not so much what bonds need to do. The focus is stocks and what that market does. Stocks need to re-introduce the element of risk and fall 10 percent off their highs to make bonds look good.
Jim Bianco
Greenspan has done a good job of morphing himself into the nation's chief economic officer and chief investment officer. He's been elevated to the status where we can't cut taxes unless Greenspan says we can cut them.
Jim Bianco
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