Albert Edwards Doesn't Think We Have Escaped The Ice Age

Albert Edwards, strategist at Societe Generale, commented that of all the moves seen in the last few weeks, perhaps the one that surprised me the most was the dramatic rise in yields on inflation linked bonds, outdoing the rise in yields seen  on  conventional  bonds.  To  be  fair,  the  dramatic  sell-off  in  bonds began right at the start of  May when  T-Note  yields  bottomed at 1.63 percent, well  ahead of Bernanke’s speech last week.

The bloodbath in the bond markets has led some commentators to see this as the end of the long bull  market.  Indeed,  a  recent  Bloomberg article ...