Best Stock Charts | Bond Bubble Has Burst!
In this week’s Best Stock Charts we discuss how the 35 year bond market bull market has now burst. We have broken down below the lower band of the rising uptrend channel on the charts of the bonds. This breakdown to a new quarterly low is very bearish for the bond market as it forces bond yields higher. Higher bond yields impact the borrowing costs of corporations therefore impacting their profit margins. Now keep in mind that the price to earnings ratio of the stock market is already at historic highs. This sets the stage for a major stock market correction. The rise in interest rates is very bad for the consumer as credit card debt is at historic highs with teaser rates set to reset to very high rates making defaults of credit card debt very likely.
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