Portfolio implications as the convergence to zero trade ends

At the beginning of 2015, I began to push an investment thesis for fixed income that has had a lot of upside, but that I believe has finally played out. I want to discuss why that thesis mattered, why it's dead and what will replace it.

Secular Stagnation

So let's frame this through the lens of secular stagnation. I'm talking about the 'convergence to zer…