“a slow-motion crisis unfolding in the government bond markets”
“The corollary of rising long-term rates is a shockingly fast swing from equity ‘cheapness’ to unusual expensiveness.
Goodbye to the post-global financial crisis TINA [there is no alternative] world when equities yielded almost as much as bonds and hello to an ever-more stretched elastic band which will surely eventually snap,” said Edwards.
“a slow-motion crisis unfolding in the government bond markets that equity investors continue to ignore at their peril.”
Granted, Edwards, who is credited with calling the dot-com crash, has been warning on a tech bubble warnings since April 2024
and tossed in an everything bubble-caution in July.
Of course, his latest warning comes alongside a recent pullback led by major technology stocks.
With cash flow yield now so very low and bond yields so very high, it may take very little to trigger a crisis in confidence of equities,” he said.
Barbara Kollmeyer MarketWatch 21 August 2025
Something bigger needs a trigger, says Citi.
The latest stock sell-off is just a rotation.
https://englundmacro.blogspot.com/2025/08/tuesday-was-key-day-was-it-shift-or-blip.html
Albert Edwards, Permabear, Sees More Trouble Ahead
december 27, 2023
The SocGen strategist’s doomster scribblings are a must-read for fund managers — even if he’s often wrong.
https://englundmacro.blogspot.com/2023/12/albert-edwards-permabear-sees-more.html
"Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back”
― John Maynard Keynes
https://www.goodreads.com/quotes/212215-practical-men-who-believe-themselves-to-be-quite-exempt-from
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