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Financial Times/Tommy Stubbington and Colby Smith/4-29-2021
“A global bond retreat resumed on Thursday despite Fed chair Jay Powell’s insistence that the US central bank has no plans to wind down its bond-buying efforts any time soon, with many investors betting yields will top their March highs in the coming months as prices fall.”
USAGOLD note: The Fed, it has become obvious, is fighting headwinds to keep rates down. A surprise surge in inflation could make things substantially worse for both the Fed and bond market – whereupon, from the investor’s point of view, gold might appear to be the last safe haven standing.
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