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Yardeni impressive picture leads with bond funds, it is hard to imagine, so that the reversal is painless. On the bonds (including. corporate) pyramids are built worse than the past.
Interesting, that Equity and does not smell inflow. Even a little (it's clear that down, but just a little). In principle, because. leverage in bonds is clearly huge, such outflow can be just on multiplier compression. Without any overflows there.
