Credit Suisse research is on Twitter, and they just went wild, tweeting the case for a bear market in bonds.
Using the hashtag #BondBearMarket, the firm fired out a series of tweets backing up its case, starting with the straightforward call that fair value for the US 10-year Treasury note is 2.75%, about 75 basis points above where that bond currently trades.
The firm also noted that 98% of the decline in bond yields since last spring were driven by declining inflation expectations — and expectations have currently ticked higher.
Here’s the full rundown from Credit Suisse:
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