JEPI - Equities Offer Hideous Duration Risk At Record Highs

• The highest-quality bonds have sold off year to date, while risk assets have leapt.
• Equity bulls are declaring a few percentage points decline in bond prices "carnage" and warn that long bonds have "duration" risk, though the duration risk in equities is much larger than bonds.
• With most convinced inflation will run hot and treasury yields continue to climb (as their prices fall), we are watching closely for another valuable buying opportunity to add the highest credit-quality bonds.

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