Kames' Hull: It may not all be bad news for bond bears

This year has once again been one where bullish bond investors have been a little smug.

The more bullish had started 2017 with worries that 10-year Treasuries might touch 3%, that failed to materialise but pushed to about 2.65%. This led to the bears once again being unsatisfied - and 2018 may well be another repeat. While the headline employment rates have suggested full employment, productivity and under-employment ended up being the main drivers of sentiment and this kept inflation in check. With the tech disruptors feeding competition and price deflation becoming an ongoing theme, markets continue to believe structural inflation is in short supply, leaving most ce...