It’s over. Read this!
http://bloomberg.com/apps/news?pid=20601....
Bond Vigilantes Confront Obama as Housing Falters
Other economists are more pointed. After falling from 16 percent in the early 1980s, 10-year yields have nowhere to go but up, according to Richard Hoey, the New York-based chief economist at Bank of New York Mellon Corp.
“The secular bull market in Treasury bonds is over,” Hoey said in a Bloomberg Television interview. “It ran a good 28 years. They’re never going lower. That’s it. It’s over.”
Vigilante Bondholders - there’s a term I haven’t heard of until today.
Are they a buch of pissed off rich guys who’ve decided enough is enough?