THE STORY HASN'T CHANGED

Although lots of commentators are talking about the end of the reflation trade, all I can say is "bought from them".

I’m sure you’re all tired of reading about the election, so I will try to keep this a little different from other post-November 3rd analysis.

Whereas most market commentators focused on the stock market action, I think the real surprise was in the bond market.

In the early hours of the election night coverage, the ultra-long bond future pushed down to a n…