There’s some old-fashioned vigilante justice going on in the bond market right now, according to Ed Yardeni, a veteran investment strategist and former Fed economist who now runs the widely followed market analysis firm Yardeni Research.
Yardeni coined the phrase “bond vigilante” in 1983 to describe investors that sell Treasuries in order to either protest against or influence monetary or fiscal policy. And in a video webcast on Wednesday, he warned that these bond vigilantes are now back in force. “Not only are they saddled up, but they’re on the move,” he said.
