It is now accepted wisdom on Wall Street that the great bond rally of the past 30 years is over and that we have entered a new era of higher interest rates.
Investor Robert Kessler disagrees.
He points out we have had many false alarms about economic growth and central bank tightening over the last 6 years only to see interest rates retreat again.
Kessler has correctly defended the value of U.S. Treasuries in particular against Wall Street naysayers for more than a decade. So before you follow the stampede out of bonds you might want to listen to his defense of bonds.
Investor Robert Kessler disagrees.
He points out we have had many false alarms about economic growth and central bank tightening over the last 6 years only to see interest rates retreat again.
Kessler has correctly defended the value of U.S. Treasuries in particular against Wall Street naysayers for more than a decade. So before you follow the stampede out of bonds you might want to listen to his defense of bonds.
