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Feature Article

05/24/2017 - 1:18pm By: Zero Hedge

Having lambasted the market's abhorrent response to the worst terror attack in Britain in 12 years yesterday, Bloomberg's Richard Breslow takes aim at the flip-flopping consensus rearing its ugly head in bond land worldwide. As he writes, it's become very fashionable to get on the bandwagon that sovereign yields are never, or at least no time soon, going to rise. A number of the biggest banks have joined the parade just recently. This relies largely on making the obverse of the assumptions they stated with great assurance for much of this year. It's also borne out of impatience for this conviction view to start working already. That's not a great investing thesis. Contributing to this capitulation is the fact that U.S. numbers haven't been nearly what analysts were hoping for. Even if they...

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