The Bond Market Bull Run died peacefully in his sleep at his home in PIMCO headquarters in Newport Beach, Calif., on Friday. He was 30 years old. Bond Bull was born in July 1982 during a burst of inflation that sent interest rates above 15%. According to his father, former Federal Reserve Chairman Paul Volcker, Bond Bull lived the most prosperous life of any bond market in modern financial history, generating stock-like returns of 9.2% a year over his three decades on Earth. Bond Bull had been in poor health for most of the last 10 years, stricken by the...
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Don't bet on it. All is not as it seems.
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