Thursday, May 19News That Matters
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Bill Miller: A rush out of bonds is about to 'propel stocks significantly higher'

Bill Miller: A rush out of bonds is about to 'propel stocks significantly higher'

Finance
Hedge fund manager Bill Miller warned clients that a rush out of bonds is about to "propel stocks significantly higher.""I believe that if rates rise in 2018, taking the 10-year treasury above 3 percent, that will propel stocks significantly higher, as money exits bond funds for only the second year in the past 10," Miller wrote in a letter dated Jan. 23. "Bonds, in my opinion, have entered a bear market, but one that is likely to be benign for the next year or so."Miller founded Miller Value Partners in 2016 after 35 years as a manager at Legg Mason. There, he managed a fund that beat the S&P 500 for 15 consecutive years through 2005.Given the positive outlook on global economic growth and "partially" appreciated tax cuts, Miller now forecasts an end to the great bull market in bonds....
Raw waste water use on farms is '50% higher' than estimated

Raw waste water use on farms is '50% higher' than estimated

Science
The global use of untreated waste water from cities to irrigate crops is much more widespread than previously estimated, says a new report.According to this updated assessment, nearly 30 million hectares are now using untreated water within 40km of an urban centreSome 800 million people, including farmers, vendors and consumers are said to be exposed to serious health risks.China, India, Pakistan, Mexico and Iran account for most of the treated land.The huge populations in big cities across the developing world make very attractive markets for farmers. The lack of refrigeration and transport means that crops need to be grown close to these consumers. Being close to cities also provides a key element for the crops - plentiful amounts of nutrient-rich waste water."Some might call it sewage, ...