BGRN - Bond Yields: Still A Bargain For High-Grade Borrowers

• The bond market is still in a very confused state as the government and many high-grade companies can borrow at rates that are below the rate of inflation.
• Furthermore, the financial markets are in so much disorder now that any "tentative" Fed actions to stem inflation will fall far short of achieving much success.
• Bond yields are going to rise throughout 2022, but will probably need to move up even higher after the end of the year.
• It has taken a while for the Federal Reserve to get us into the current situation and it will likely take a long time for the Federal Reserve to get us out of this situation.

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