Wall Street’s Hasty Exodus: $11 Billion Worth of Bonds Retreat from American Carnage 🚨💸
The exodus harks back to the glory days of Q1 2020, when everything was being sold except perhaps one’s own grandmother. Robert Tipp, high priest of bond wisdom at PGIM, offered this ominous gospel: “It’s a volatile environment, with inflation misbehaving and the government churning out IOUs as only a government can. People are nervous at the long end of the yield curve, though they do appreciate the coffee at Fed meetings.”