Bottom line is that global population growth is decelerating at its fastest rate since the early to mid 1990’s. Based on historical precedent, another leg down in global growth is likely to follow.
Here’s another huge secular headwind (Demographic Chart) investors need to see.
These two charts are the bull case for long-duration bonds which we have been (successfully) long for some time now. On a related note, the next bull case for stocks is #GrowthSlowing perpetuating the “need” for more Fed cowbell, bailouts, etc.