Markets Under Pressure — Rates Soar Again

I’m double parked waiting to encroach on new journeys in NYC today. Meanwhile, it appears doom encroaches on stocks, specifically because the US 10yr is soaring +8bps and the dollar is careening higher against the euro +0.8%. With oil up, it appears we have a small inflation scare again.

Stocks are somewhat tepid, down a little but not enough to instill fear. I do propose we knife lower in the afternoon. I feel it would be apropos.

I’m nearly all cash with only a 5% $LABD position. Since I’ll be out and about having so much fun, I doubt I’ll be able to really trade — seeing that I’ll be as happy as a NAFO shill beating off to HIMARS launchers.

Truthfully, markets should not think about going up with rates up. Don’t even think about buying this tape.