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Inflation and deflation in this levered world coexist nearly side-by-side. - Bill Gross (1944- ) 레버리지가 일어난 세상에서는 인플레이션과 디플레이션이 나란히 공존합니다. - 빌 그로스

English 한국어 Amidst the ongoing bull run in the stock market, macroeconomic indicators suggest that the bond market bubble may be approaching a critical contraction phase. As indices such as the Dow and S&P 500 achieve record highs, institutional and retail capital is rotating from safe-haven debt instruments to equities. Consequently, the yield on the 10-year U.S. Treasury note has escalated to an 11-month high of approximately 2 percent. This capital reallocation is projected to endure as the U.S. economy exhibits sustained, albeit moderate, recovery. Furthermore, given the low probability of the Federal Reserve expanding its quantitative easing initiatives, a structural increase in long-term interest rates appears inevitable. Market analysts project systematic yield increments, potentially exceeding 3 percent by early 2015. Such upward rate pressure threatens to destabilize the housing sector by elevating mortgage rates and terminating the current ...