Many of the forecasts I hear regarding bonds seem to be based upon what bonds have done for most of the last 40 years without acknowledging what has happened more recently. The chart below shows that 30-Year T-Bonds were in a rising trend from the 1982 low, but in early-2020 they made a long-term top, and began trending downward. That down trend lasted long enough for price to violate the rising trend line, which is strong evidence that the long-term trend has now shifted downward. Technically, we should expect that this down trend will continue for a long time, probably decades.
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