Bill Fleckenstein On The Global Bond Rout, China, Central Banks Losing Control And Jim Rogers Warning About Manias

"With continued volatility in global markets, today one of the greats in the business sent King World News a powerful piece about the global bond market rout, China, central banks losing control and Jim Rogers warning about manias.  He also discussed what is happening in the metals and currency markets.

By Bill Fleckenstein President Of Fleckenstein Capital

May 12 (King World News) – The worldwide bond mini-rout continued last night, with German 10-year bunds now yielding 67 basis points and even JGBs have joined the downside party with their yields rising to a "massive" 44. I think it is probably too soon to suggest that the world's bond markets are actively taking the printing press away from the central banks because the policies they pursue are bad for bond holders (if not everyone, except for those who already have a lot of wealth and are willing to bet on the mania continuing, or don't understand that it is a mania).

The big news Monday was the announcement of another rate cut by the Chinese. That saw the stock market there rally by about 3%..."

at http://kingworldnews.com/bill-fleckenstein-on-the-bond-rout-china-central-banks-losing-control-and-jim-rogers-warning-about-manias/