12/20/11

Thought of the day

Bond yields have become the equivalent of what it used to be the meaning of exchange rates.

It used to be that the least efficient country had the weakest currency. Now, in the new world of high leverage, the least efficient country has the highest bond yield.

Markets are very efficient and they cannot be fooled. Even if the politicians try hard to do so.

More details in my The Peter Dag Portfolio , in Dag's Exclusive market Alert, and my free educational videos on http://www.peterdag.com/.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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