(New York) Anybody who is worried about a pending bond bear market might take some solace in recent news. The US has just seen a weak inflation report, and a flattening of the yield curve, both at home and in the Eurodollar market, spells ill for the economy. Perhaps we will not have a deep recession, but we definitely don't think there will be continuous hikes for the next year and a half, which is good news for bonds.