I've often heard the opinion that the bond market is smarter than the equity market. Is there any research backing that up?

I wonder if this sort of like "Sell in May and go away?" 🙃 At one point a couple years ago one SA contributor seemed to think the bond market was at least _spookier_ than the equity market: [https://seekingalpha.com/article/4276405-bond-market-is-spookier-stock-market](https://seekingalpha.com/article/4276405-bond-market-is-spookier-stock-market) (Halloween is right around the corner after all!) In all seriousness though, I think this might have something to do with the yield curve and correlating implications for equities? Not aware of any research though and couldn't find any with a quick Google search.

Joshua Simka

Equity vs Bond Market

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