Interest rates are going up! Interest rates are going up! It's the bond market equivalent of Chicken Little screaming that the sky is falling.
Now, to be fair to fixed-income wonks, it is in fact true that interest rates are going up. Chicken Little, on the other hand, came to an erroneous conclusion due to her ignorance of the fundamental laws of gravity. (Watch out for that acorn next time! Plonk!)
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