2009-01-30 — bloomberg.com
“This may sound a bit ridiculous, but we think we have begun a full-blown bear market in fixed income,†wrote Tom Fitzpatrick, Citigroup’s New York-based chief technical analyst, and London-based strategist Shyam Devani. “The commodity that is going to be the most in demand as far as the eye can see is capital. As a consequence, the cost of capital can only go one way -- up.â€
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