Société Générale's bearish strategist Albert Edwards has drawn stark comparisons between now and June 2007 when the bond market was selling off, oil prices were pushing up inflation and there was robust wage data.
Edwards (pictured) said he had not planned to put pen to paper this week however, cautioned "the ongoing rout in the US bond market demanded it". Although the recent bond market sell-off did not signal the end of the multi-decade bull market, the permabear warned the market was getting close to causing a downturn in equity markets. Earlier this week, two-year Treasury yields rose to their highest level since 2008, jumping to 2.816% while the 10-year went through the 3% barrier to reach 3.089%, the highest since May, amid escalating trade tensions between the US and China. "So while...
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