Bond Bear Market on the Horizon
Part 1 of 2
James Grant, Founder and Editor of Grant's Interest Rate Observer, joins us to discuss the history of bond market cycles and why the dramatic rise in interest rates that began in March of last year might have ushered in a prolonged bear market in bonds.
Grant argues that bond yields have trended in generation-length periods, with each cycle lasting at least 20 years. He believes that the bull market in bonds that began in the early 1980s has now come to an end, and that we are now embarking on a long-term period of rising interest rates.
Grant's perspective is important because he has been warning of a bond bear market for many years. He has argued that the central banks' aggressive monetary stimulus policies have created a bubble in the bond market and that this bubble is now bursting.
WEALTHTRACK episode 2020 originally broadcast on November 10, 2023
More info:https://wealthtrack.com/financial-thought-leader-james-grant-on-the-investment-ramifications-of-the-new-era-of-higher-interest-rates/
Bookshelf:
The Forgotten Depression: 1921: The Crash That Cured Itself
https://amzn.to/3QTCsh9
Money of the Mind: How the 1980s Got That Way
https://amzn.to/47tIeev
The Trouble With Prosperity: The Loss of Fear, the Rise of Speculation, and the Risk to American Savings
https://amzn.to/3ugSwjR
Bagehot: The Life and Times of the Greatest Victorian
https://amzn.to/47cX49S
Inside the Yield Book: The Classic That Created the Science of Bond Analysis
https://amzn.to/47lO3KY
A History of Interest Rates, Fourth Edition
https://amzn.to/3FR38J1