The Long Bond Has Generated a +20% Net Return Since Mid-October!

The bond-bullion call in recent months has begun to perform admirably again.

Highlights

• The broadening out in the equity rally is little more than short covering 

• PMIs across Asia and Europe end 2023 on a recessionary note 

• Economic and political stability fuel India’s equity rally 

• Bullish EPS projections out of sync with Fed's downbeat nominal growth forecast