BOND MARKET CONFUSION

Part 1 of 2: The "Real Money" accounts and peak inflation hysteria

Over the past couple of weeks, the real action has been in the bond market. Sure, during this last stretch, stocks have pushed to new highs, but compared to the gyrations in fixed-income land, equities have been downright boring.

I thought it would be instructive to walk through what I think happened recently in the bond market, and then outline where th…