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BOND MARKET HISTORYONICS

Merriam-Webster defines the word “histrionic” as overly dramatic or emotional. This is an apt description for both the Federal Reserve and the fixed income market in the first quarter of 2022, and provides a more accurate embodiment than “Taper Tantrum” since 2022 performance to date renders 2013 and 2014 as relatively benign. First, let’s frame the Federal Reserve in the context of Histrionic Personality Disorder as defined by Psychologists.


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