From The Big Picture:
Over the past few months, I have been saying U.S. Treasurys remind me of the dot com stocks circa 1997-98 in three ways:
1) You knew momentum was taking them (much) higher
2) You knew it was going to end badly
3) If you were honest, you admitted you had precisely zero idea when the day of reckoning would be.
I mentioned this at the Agora conference last month, and again on Fast Money last night, and Bloomberg radio this morning.
What made the dot com situation so pernicious was that...
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More on Treasurys:
Marc Faber: Don't touch U.S. government bonds
The U.S. bond bubble could have popped already...
Nassim "Black Swan" Taleb: Government bonds will collapse