Five-Decade Market Pro Who Called Bond Rally Sees 1% U.S. Yields

Updated on
  • Gary Shilling sees Treasury gains as global rates go negative
  • Former Merrill Lynch top economist says this cycle is unique

Gary Shilling.

Photographer: Jin Lee/Bloomberg

A year ago, with U.S. equities approaching record highs and the Federal Reserve moving toward raising interest rates, Gary Shilling was a lonely voice on Wall Street predicting financial-market gloom in the 12 months ahead.

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