Maybe that's what USD/JPY is saying
Is the break in bonds over just as it looks set to begin?
Jeff Gundlach said this is the end of the bond bull market and a massive watershed. But Blackrock global fixed income CIO Rick Rieder has other ideas.
Reider oversees a whopping $1.85 trillion in bond assets for the world's largest money manager and he says this isn't the beginning; it's the beginning of the end of rising yields.
After hiking in December, he said the Fed may only hike once or twice in 2019.
"I don't think they're going to go that many times next year," he said, as opposed to those calling for four hikes.
He said the hike talk focuses too much on current growth and not enough on an impending slow down.
"What the Fed is looking at today is some pretty incredible growth that's aided by stimulus that we think could actually start to slow in the next year," he told CNBC. "Global growth has been good. But global growth is turning down significantly."
10-year yield:
The bond market is closed today and the stock market certainly doesn't like higher yields but the dip in USD/JPY in the past three days might be telling -- maybe yields aren't set to rise.
On that same thought, the CFTC positioning data showed a crowded USD/JPY trade.
