I think he is trying to capitalize on the bond traders panic. This is a well timed press release. Treasuries gapped down considerably today and good old bill come out of the woodwork to proclaim that the bear has started??? Hey bill where were you 6 months ago? Better yet why not tell use that 2003 was the end of the mother of all bond bull runs. I figure bill will be good for another 25 to 50 basis points jump across the board for yields.
The reason I feel rates will continue to rise is that there is a tremendous amount of wealth in the global economy and people are not very risk averse. India, China, Russia, Japanese carry traders, US and European's are all speculating heavily. Rising rates will lure the investing public back into the preservation of those wealth and allow larger financial institutions invest that capital in a more structured way, rather than throwing it at crappy boat shoes, expensive music players and cell phones.
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