The collapse of the risk-free delusion: Implications for the $133 trillion bond market

International Man/Nick Giambruno/July 2023

cartoon of two happy travelers driving over cliff in car“Did you know that 2022 was the WORST year for US Treasuries in American history? The benchmark 10-year Treasury fell nearly 18%, and the 30-year Treasury collapsed over 39%. Many other bonds did even worse.”

USAGOLD note: Giambruno warns that “It may be tempting to think the worst is over for bonds – it’s not. As you’ll see, the pain for bondholders is just starting.” The result he says will be a mass movement over time to reliable stores of value.

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