Being hungry for yield-related assets is one thing. Throwing all caution to the wind when seeking yield is another.
I don’t know when the bear market in bonds will start, but I do know that investors will suffer terrible losses when it happens.
The Fed is allowing big banks to treat municipal bonds as safe, high-quality assets for emergency reserves. But once you’ve read up on Ramapo, New York, “safe” no longer comes to mind.
Investors cheered for the Fed’s first rate hike in nearly a decade, but it’s about to turn ugly. Learn what sector the rate hike is set to kill…