The tweet was deleted by the author.
But we saved everything 🙂.
James E. Thorne argues that the increasing control of hedge funds in the bond market undermines the longstanding belief that credit markets and bond vigilantes represent the smart money.
Thorne suggests that when short-term, leveraged participants dominate, traditional assumptions about pricing and market wisdom may no longer hold.
View post on X Loading...
Thorne has recently weighed in on other markets, noting that Micron trades at less than 7× 2027 consensus earnings as investors question the chipmaker’s long-term prospects. He also discussed the potential for an Iran deal to increase oil supply and lower prices, with implications for Federal Reserve decisions. These previous comments reflect Thorne's ongoing focus on factors affecting major asset classes.