http://www.safehaven.com/article/44150/secular-low-in-bond-yields-remains-in-the-future-says-hoisingtons-lacy-hunt
"The rate hikes various Fed presidents think will happen are pure Fantasyland
material.
Huge equity and junk bond bubbles are in play. The Shiller 10-Year PE is 29.2.
The only higher numbers were 1929 and the dot-com bubble in 2000. The bursting
of these bubbles will be anything but an inflationary event.
Those looking for a steeper yield curve, might get it, but not the way they
expect. When recession does hit or the stock market collapses, the Fed will
be cutting rates, not raising them."