THE MANCHIN RALLY

Explaining why bonds have gotten a bid lately

Let’s think back to a couple of months ago.

Inflation was on everyone’s lips. Commodities were ripping, probably best exemplified by lumber rallying almost 600% from the March 2020 COVID lows. The employment situation was equally worrisome. Anecdotal stories about businesses unable to find workers were passed amongst concerned bond traders like warni…

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