Guggenheim's Minerd Bullish on Bonds Long Term

The video discusses recent changes in the 10-year yield, highlighting a significant shift in late July. It explores the potential for negative rates without Federal Reserve intervention, noting seasonal trends in bond markets. The speaker emphasizes deflationary pressures due to debt accumulation and predicts a possible drop in the 10-year note to negative rates within 18 months. Despite poor returns, the speaker remains optimistic about bonds long-term, citing economic pressures that may lead to negative trends, especially without stimulus packages.

What factors contribute to the deflationary pressure mentioned in the text?

What is the speaker's long-term outlook on bonds despite potential poor returns?