Bond Bear Market Began 15 Months Ago, Gartman Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 11 January 2018
⏱️ 30 minutes
🧾️ Download transcript
Summary
Russ Koesterich, BlackRock Global Allocation Fund Portfolio Manager, says less than 20% of the global bond market yields 4%. Komal Sri-Kumar, Sri-Kumar Global Strategies President and Founder, says you don't give money to the top 1%: the lower earners are the big consumers.Rep. Bill Pascrell, (D) New Jersey, says we're treating hardworking immigrants like second-class citizens. Dennis Gartman, Gartman Letter Editor and Publisher, says there's a fear we are starting a multi-decade bond bear market.
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| 0:58.5 | It's been the story of the last couple of days. The Bond Market paying with many people |
| 1:06.0 | coming out and declaring the end of a three decade long bull market in treasuries. |
| 1:11.9 | So weigh in, I'm pleased to say, Russ Kostrich, |
| 1:14.4 | portfolio manager for Blackrog's global allocation team |
| 1:17.8 | joins us around a table in New York City. |
| 1:19.7 | Russ Gray to catch up. |
| 1:20.8 | Jonathan, thanks for having me. |
| 1:21.9 | Talk me through whether the Bond Bullmarket can die. can't that the bull market's been declared dead and at some point that's going to be right. |
| 1:33.2 | It's just not evident that it's today. You know if we think about the bond |
| 1:37.8 | bull market I think it's helpful to separate out the cyclical from the secular. On a cyclical basis, yes, the global economy is |
| 1:44.6 | improving, I think inflation may firm a bit this year in the US, but what is left out of that |
| 1:50.3 | narrative are all of the longer-term, demographics, demand for income, slower |
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