Just How Difficult Is It to Time the Bond Market?
by Mark Hulbert
Bond market timers, though their job never has been easy, have faced even tougher challenges in recent years.
Have they risen to the occasion?
One of the biggest challenges they face is the structure of the bond market, and particularly the Treasury sector of the bond market. There, value and price are virtually equivalent at a given maturity, with the primary determinant being the level of interest rates.
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