By Dominic Frisby May 06, 2009
Dominic Frisby
Bank of England
A lot of people have been asking me: 'What's next?'
Sentiment everywhere is improving. In fact, I was astonished to hear such bullish talk from the likes of Anthony Bolton and Crispin Odey this last week. Their records and experience dwarf mine, but I see an intermediate top coming in the stock markets more or less now. In fact, I think we may have made it on Monday.
What's more, I am observing a worrying trend in the bond market, both for US Long Bond (the 30-year US Treasury) and for UK gilts. Even now, after months of attention due to the Bank of England's quantitative easing plans, I suspect that few people – or politicians for that matter - are really that interested in government bonds. But, believe me, the last thing we need right now is a collapse in the bond market. (more)
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