Bonds and Fixed Income

[gfp927z]

Hi Bar, Yes, looks like the 5-10 year Treasuries should have a 'tailwind' this year, with a slowing economy and % rates coming down later in the year. The yields are still just above 4%, plus a likely capital gain from falling % rates, so a nice total return.

Trump is really blowing it with these tariffs. Just way too much angst / uncertainty as he tries to pack everything into the 'first 100 days'. Much better to do tariffs (if at all) in an orderly fashion, one country at a time, which would avoid the market disruptions / freak out. Recession, stagflation now seem likely, and the real 'Liberation Day' will be when Trump leaves office. As bad as the Dems were, this is worse imo.



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