Treasury bonds, unlike corporates or municipals, can't gain from an improving economy; if interest rates rise, Treasurys will get hammered.
美国国债不同于公司债或市政债券,无法从经济好转中获利;如果利率上调,国债将遭受打击。
One of the biggest lessons I've learned over the past 25 years is that markets usually don't get hammered for the same reason more than once.
我在过去25年里获得的最重要的一个经验就是,市场通常不会由于同样的原因而再次遭受重创。
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