Bonds may represent one of the most expensive asset classes extant
Barring a recession, bond holders are almost guaranteed losses over the next decade
On both stocks and bonds, I am at the polar opposite of Mae West who once said,”Personally, I like two types of men, domestic and foreign.”
As overvalued as I believe the the U.S. stock market may be, fixed-income instruments may be even more overvalued.
After being stuck in a range of between 2.30% to 2.65%, the yield on the 10-year U.S. note breached the lower end and ended last week at 2.23%.
Yesterday the 10-year note…

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