The Great War of Stocks and Bonds

by Brian Maher
Daily Reckoning

Two options rise before us this day…

Option 1: The stock market is right. Option 2: The bond market is right.

The stock market is cheery and confident. It presently goes at record heights… and bursts with belief in a superior tomorrow.

Moreover, it has a decade of nearly unbroken prosperity in back of it.

The bond market — meantime — is dark, dour, down in the mouth.

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