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DewDiligence

05/28/13 10:32 PM

#161728 RE: BTH #161725

What do you make of the premise that some macro-bears are making in that when a bond bubble breaks, that money doesn't rotate into different assets classes, instead, it just goes "poof!"

I don’t agree with the premise. Bondholders’ unrealized losses caused by higher interest rates are unrealized gains for the bond issuers.