Never bet against the trend
Even when a dynastic mega-trend looks like it’s down and out, it always has a bit more life.
It’s heartbreaking to bet against the trend in financial markets or in sports. I can’t think of a longer-term trend than the 30+ year bond bull market. With 10-year Treasury yields climbing to 2.4% from 1.8% since the election, the bets have been placed but the game isn’t over.
