It looks like the bond vigilantes in Chicago will have to wait at least until next year to make more noise in the bond market.
While I do believe that rates have put in a generational bottom, back in 2012, I have been holding off on shorting bonds largely in anticipation of a rally into January. At that point, I will take a look at the short side.
The TLT ETF illustrates my point, with bonds finding buyers at the summer lows and breaking up and out from a falling channel.
A bear market rally is in the cards, provided $103 now holds as support.
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didn’t sell SCTY up $1 and now i am down $0.50 into the weekend