By John Persinos
Veteran political consultant James Carville once explained the power of the bond market, in his typically colorful way:
"I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody."
The Ragin' Cajun was correct. The bond market is a strong leading indicator. And right now, the bond market is trying to warn us.
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