Friday, August 19, 2016

Singer Warns Of Bond Market Breakdown

Paul Singer fund [warns] Market 'breakdown' to be 'sudden, intense, and large'

In a bleak new letter to investors, Paul Singer's Elliott Management warns that the bond market is "broken" and that when the central bank actions of recent years no longer ward off a market downturn, the subsequent loss of confidence could be severe.

The fund's recent investor letter, which covers the second quarter, notes that Elliott's managers are currently seeing "what is in many ways the most peculiar period we have faced in 39 years."

Too much power has been ceded to central banks, the letter adds, the value of money has been debased, inflation is probably inevitable, and when it happens, it could be swift and impossible to tamp down.

Elliott is a $28 billion fund founded in 1977 by Singer, now its president. The fund is up more than 6 percent for the year through July, according to an investor.

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He would know.

And there is nothing Obama ad-Dajjal, Hillary, or Trump can do to stop it. In fact, the shock wave will be so intense that it might cause her to fall down again.

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