Tom Dyson, who also believes in the short case for long-dated US treasuries, writes in today’s DailyWealth that it may be some time before treasuries actually start to fall.
But he closes the article by mentioning that the danger is much greater on the long side of this trade – and mentions a great recent quote on the topic by legendary investor Rick Rule:
“Money will be attracted to the liquidity and transparency of the U.S. long Treasury market. I think this will be the final bubble of my generation. Crowding into a 20-year bond in a depreciating currency when inflation sets in, and long rates inevitably rise, will be a religious experience for the victims, in my opinion.”