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Bond World Is on High Alert as Talk of a Bubble Reverberates

  • AlphaSimplex’s Kaminski sees risk following ‘dream’ trade
  • Volatility, deteriorating market depth add to valuation worry
House Rules Committee Meets Ahead Of This Week's Minibus Spending Bill
Photographer: Andrew Harrer/Bloomberg
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Investors are starting to question the epic bond rally that’s driven global yields to new lows and fueled the U.S. Treasury market’s best performance since the era of quantitative easing.

The warning signs go beyond this week’s failed German 30-year bond auction, which showed that demand may be faltering for negative yields across Europe, even amid growing evidence of ebbing economic growth.