CHAPTER 14MONETARY INDICATORS
Bond Market
The bond market is widely considered to be a leading indicator of the stock market. But there are times when the bond market and the stock market move pretty much in lockstep together; so the bond market is not always a leading indicator. There are also times when the bond market moves counter to the stock market.
In 2009, when the stock market was going up, the bond market was going down all through that time. That, in hindsight, was not a reason to be negative on the stock market, just because the bond market was going down. So sometimes the bond market leads the stock market, and sometimes the bond market doesn’t lead the stock market. And sometimes high interest rates, rising interest rates, are bullish, ...
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