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Beware the Judder Moment in Bonds
Blain’s Morning Porridge January 21st, 2026 – Beware the Judder Moment in Bonds
“A pebble falling down a mountain in Japan may trigger momentous events in Nuuk.”
Trump dominates the headlines but watch what’s happening in the bond markets. Yesterday Japan bond yields juddered a warning about political competency risks, but also how rising geopolitical and conflict risks are resetting investor expectations. When the bond market speaks, you ought to listen. Plus, Air Force One, Bitcoin and Howard Lutnick.
In Bond markets there is truth – as shall be revealed below. In Trump… less so.
Trump…
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