The $24 Trillion Treasury World Suddenly Looks Less Dangerous
- Bond duration is falling as signs suggest inflation is cooling
- Investors more compensated for interest-rate risk than in 2020
Pedestrians pass in front of the New York Stock Exchange in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The historic bond selloff has wreaked havoc across global markets all year, while fueling a crisis of confidence in everything from the 60-40 portfolio complex to the world of Big Tech investing.
Now, heading into a possible economic downturn, the near-$24 trillion Treasury market is looking less dangerous all of a sudden.