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With the “Taper” now a done deal, and interest rates unable to really go any lower, the Bond bull is over. Look at the inflow that this bull market created.

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Where will that money flow? At the moment, it’s flowing into stocks. Will that remain the case? Probably not, but for the moment it is the case. Which means, as unattractive as stocks are, for the moment, in the short to medium time frame, you have to hold your nose.

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