WEEKLY WRAP-UP (s2023 e14)
for the week ending Friday, October 13th, 2023
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I have recently abandoned my long-standing bond bear posture. There are lots of reasons for this change, but with real rates at levels we haven’t seen in years (10-year TIPS at 2.27%), and the post-COVID 30-year long bond issue suffering more than a 50% haircut, the risk/reward setup is no longer favourable to the shorts.
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Over the past couple of months, …