by Brian Maher
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.