Albert Edwards Calls Out ‘The Usual Chorus Of Bears’

In April thirty-year German bund yields briefly dipped below 0.5% and 10y bunds hit 0.05% after sliding for more than a year, so now that we’ve had a sharp bounce back in the last month it might seem reasonable to call that the floor. Even if ECB intervention pushes yields back down a bit, there hardly seems to be any room for a sustained bond market rally. But Societe Generale stock-market permabear Albert Edwards thinks bond yields will go lower, and that investors don’t want to believe it because of what it says about stocks. “The rapid upward move in…