...And, Bonds

Mr. Market has a reflation bet back on the table, with bond yields rising in the past few trading sessions and offering up a juicy buying opportunity. For if there are two things we know it is (i) the only part of the Treasury curve with yield is the long bond and (ii) bonds do not go into a sustained bear market until the Fed embarks on a rate-hike cycle, and we know that this will occur no earlier, and likely much later, than mid-2013.