The premise for this argument is built upon the fact that with increasing supply across bond markets globally and with central banks looking set upon quantitative tightening along with gradual rate hikes, many market participants are confidently anticipating a reversal in the downtrend witnessed over the past 3 decades.

The FED’s Possible Path –The current expansion is the second longest in history since the 1900s and well above the average length of expansions. It is currently in the 9thyear and likely in the 9thinnings. Fiscal stimulus – the likes of which has never been seen before at such low levels of unemployment may well push this expansion into extra innings. However, this is likely to be a short-term phenomenon given that the unemployment rate is already low and strong structural and demographic forces mean that there isn't much room for the unemployment rate to fall from here. As a result of the labor market tightness, wage growth can be expected to rise and subsequently inflation can be expected to pick up. If the above premise plays out as expected, the FED will likely raise rates 2 more times this year and 3 times in 2019.

Bill Gross (Jan 2018) - Bond bear market confirmed today. 25 year long-term trendlines broken in 5yr and 10yr maturity treasuries.

Jeffery Gundlach (Jan 2018) - Anything above 3.22 on 30 year will end this bond bull market for good.