There is a huge debt to be refinanced by nations - Europe and USA. They are trying to rebuild their finances, to pay the bills, to pay all the promises they made to the people and to themselves.
It is a continuous barrage of issuance of bonds -- billions and billions.
Now, why do I say this? Because it is unfathomable not to think that all this issuance does not have any impact on yields. Yields may be kept under control by the central banks, but at some point yields have to go up. They have to. The supply of bonds is too huge.
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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