Over My Shoulder

Kessler & Co.: The bull market in Treasury bonds

September 13, 2012

I had not seen Kessler's work before, but I like this paper. The Fed won’t tighten until a few things have taken place, and they may be a long time coming. Which is not to say that the Fed will actually be stating that to be the case, which probably wouldn't be helpful: “No hurry on taking out that loan… rates will be down for three years.” I think long rates are still going lower.

Download - Kessler_commentary_on_treauries.pdf