On bondssinclair might also want to consider the following (extracted from a post by greenmonday) before calling his fabled top in bonds
" can't believe the trashing that bonds have been taking. I've been calling for a correction for while now but not like this. The 10 year went from 3.56% to 4.15% in 4 days! However, despite this correction I doubt the bond bull is over. The top calling in this sector and people claiming "bond bubble" has been wide spread and it's been going on since last year. At the top of the market in 2000 when the Naz was trading at 200 times earnings why wasn't the media saying "bubble"? No. You didn't heard that. Instead you heard "new paradigm" and "this time it's different".
Yes, there has been a stampede recently into bonds singalling optimism was getting a little too high and an important intermediate term top was immanent but IMO I don't think the long term trend has changed. Not untill everyone including the media embraces them as much as they did stocks at the top in 2000 do I think it will.
People keep saying that bonds can't get much lower because yeilds are at historic lows. That is false. With the long bond currently at 5% and only droping to 4.5% or so at the recent lows, there is still a long way to go before it hit's the 3% extremes seen in the the 1940's and 50's. Japan's long bond is at 1.5% and has been there for several years. In fact if you look at data going back 200 years 5% is the median yeild for long term bonds!
It just goes to show you that propaganda is what the media is all about. Never ever take what they or any other clown on ROB TV or CNBC say at face value.