- A flight to safety... the yield on the 10-year treasury drops 15% in two weeks in a raging bull market.
- For some investors (computerized or not), fears of higher interest rates and inflation trump a rip-roaring economy with a tankful of fiscal stimulus and easy monetary policy as far as the eye can see.
- This attempt of some to beat the Fed to a distant punch is a welcome sign that the "wall of worry" is very much intact.
- Corrections and bear markets lie ahead. They always do, and they are hard to predict. I’m just not sure the time is right to load up on 10-year T-notes yielding 1.455%.
For further details see:
UST 10-Year Rockets - A Misguided Attempt At Beating The Fed To The Punch