But, but, but... who would buy bonds when they only yield 2%? It appears, for the 10th year in a row that the smartest people in the room have been totally and utterly wrong about the direction of interest rates.
As 2014 draws to a close with stocks at all-time highs and 1% of the nation cock-a-hoop at the wealth being created, we wondered just how many know that mid- to long-duration bonds are up around 24% year-to-date, almost triple the 8.3% gains for The Dow...
It'll be different next year though... right?
Charts: Bloomberg
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