While the financial media peanut gallery takes exorbitant joy of mocking Edwards' gloomy predictions, which it tends to equate with forecasts of crashing equities even if Edwards doesn't actually make equity trade recos, the truth is that Edwards was alone against consensus, predicting months earlier that US bond yields could tumble, chasing both Germany and Japan into sub-zero territory.
And as the deflationary "Ice Age" unexpectedly re-emerged in May with a bang, Edwards was right and everyone else was dead wrong.
This is how Edwards recapped his take on the recent - and future - moves in bond yields:
A key part of the Ice Age has been the prediction that US and European 10y government bond yields would fall to levels never previously seen – replicating Japan's experience. We were told that this would never happen in the west because policymakers would not make the same mistakes Japan made! But with European yields plunging to new negative lows and the US yield curve giddy with inversion, the sceptics are now seriously contemplating the brave new world in which US 10y bond yields fall below zero.