Apr 5, 2017

Jim Grant on how markets do not always look ahead

Markets that supposedly and rightly ought to be looking ahead, sometime look back.

~ James Grant, Grant's podcast, January 27, 2017

(Grant was describing the spring of 1984 when U.S. T-bonds yielded 14% briefly in May while year-over-year CPI was 4% or less.  In other words, real yields were an astounding 10%.)

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