WASHINGTON — A new report released by The Federal Reserve System shows that bonds have lost 10% and the last time the broad bond market performed this poorly was in 1842.
“Those years are gone, back then you could trade a barrel of salt cod for two stones worth of iron ore and then trade your ore for government-backed 10-year bonds,” said Yellen while casting her fishing rod off her boat named “Low Interest, High Tide.” “When I first started teaching at Harvard in 1841 we thought fish were the future of currency. It was only a few centuries before where the Dutch were using tulips, so we thought we were on to something.”
Hedge fund manager Thad Kreuger is keeping a close eye on the market and offered some advice.
“2022 and 1842 have simply been the worst markets for bonds in the history of bonds. Remember, bonds don’t build your wealth, they keep you from becoming so poor you can’t afford Salt Cod,” said Krueger.