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Splum, I use the term "bond" generically to include currency purchases, Forex style transactions.
Take US$ to euro conversion at the bottom (0.90) and the current (1.30) which represents a .40 shift. 0.40 / 0.90 = 44% shift.
Now, has the DJIA or similar moved up 44% over the same time?
The US market may be up, but in relative terms to other currencies, the buying power is down.
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