Each morning, Dennis Gartman rises insanely early to pen one of the most respected investment newsletters in the world. Here, his thoughts on whether it makes sense to own bonds at all in the current market, why there will soon be an outflow from...

Postelection zeal is flagging.

Investors should beware a rise in bond yields, a downturn in economic data or a policy misstep in a large emerging market.

Investors should guard against complacency.

Unlike emerging-market mutual funds, ETFs don’t have the option of holding cash, so if they get outflows, they have to sell the underlying bonds in the index they track.