In a previous life as a bond trader, my colleagues and I would try to find solace amid bond market sell-offs by focusing on the rise in yields as a potential opportunity going forward. The “yield rally” as we described it, was a half-hearted attempt to find something positive and provide a lift during discouraging bond market declines. But recent bond market weakness is no laughing matter, and as we discussed last week, May 2013 was one of the worst monthly performances for high-quality bonds over the past 10 years…

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The Yield Rally Continues