Ray Dalio had something similar to add to bonds. His view comes from rising government deficit world over. The path that US fiscal deficit is in will lead to a crisis in 3 years give or take one or two years as per legendary macro trader.
Nice piece. Part of the narrative panic might have something to do with bonds' relative performance compared to gold, and increasingly, the entire precious metals complex. If gold is the fire alarm for bonds and currencies, some panic would seem to be warranted.
Gold should benefit from higher inflation targeting - the exact opposite of bonds. But I do think the gold story is more about Chinese accumulation with respect to the pressure on their currency
Great as always..
Ray Dalio had something similar to add to bonds. His view comes from rising government deficit world over. The path that US fiscal deficit is in will lead to a crisis in 3 years give or take one or two years as per legendary macro trader.
Crisis is unlikely. Next essay will be on this so keep an eye out for it.
Nice piece. Part of the narrative panic might have something to do with bonds' relative performance compared to gold, and increasingly, the entire precious metals complex. If gold is the fire alarm for bonds and currencies, some panic would seem to be warranted.
Gold should benefit from higher inflation targeting - the exact opposite of bonds. But I do think the gold story is more about Chinese accumulation with respect to the pressure on their currency