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In times of economic uncertainty, it used to pay to check with the bond market to see what signals it was sending.

Is the economy headed into a recession? See whether yields are declining. Is inflation about to accelerate? See whether yields are rising. Bonds were the economy’s crystal ball. Now, they may be no better than a Magic 8 Ball in helping decipher the future.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
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