The Bull Market That Won’t Die

by James Rickards
Daily Reckoning

Investors have been hearing for years that “interest rates are near all-time lows,” and “rates have nowhere to go but up,” and finally, that “the bond bear market is right around the corner.”

These warnings have come from notable bond gurus including Bill Gross, Jeff Gundlach and PIMCO’s Chief Investment Officer Dan Ivascyn.

Investors are told that the time has come to dump bonds, short them if you can, and brace for much higher interest rates.

There’s only one problem with these warnings. The bond gurus have been dead wrong for years, and they’re wrong again now. Rates are going lower, and the bond market rally that began in 1981 has further to run. The bull market still has legs.

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