TLT is up 5 months in a row. I cannot find an occurrence when this has happened in the past. Even during the dark days of 2008, when the world was burning, there were down months. Granted, this move isn’t as fanatical as that one, taking a much more methodical approach higher. But its been a winner, nonetheless.
I hate to be that guy who says “since TLT is up 5 months in a row, it must be topping.” That’s loser group think. I like to view these outlier events pragmatically and try to understand the root cause. I’ve always felt Russian oligarch money was finding its way, ironically, into the hands of the US govt–via bonds. Ever since this Ukraine business started, bonds have held up remarkably well. So well, it has people whispering to one another in dark alley ways, trying to figure this thing out.
Truth be told, none of that matters–in the big scheme of things. Both the Dow and S&P have held up considerably well, much more than anyone would’ve anticipated, given the circumstances. Right now we have a weak tape–with 60% of stocks lower for the day. The hole is shallow, but the width is wide.
I have one stock outperforming and that is JAZZ–an absurdly cheap biotech/pharma stock that is a cash cow–yet treated like a piece of chewing gum under a school desk. Eventually, JAZZ gets acquired. Eventually, “The Fly” can string together more than 2 days of winship. And, eventually, bonds will go lower.
Everything has an expiration date, even misery.
If you enjoy the content at iBankCoin, please follow us on Twitter
Lower? Sub 2 yields on the 10 year and Yen to the moon.
Quit being so overly dramatic. It’s gay.
The Yen has done NOTHING in 6 mos and it down over the past year.
It’s was Yellen’s idea to suggest to Obama that we instigate the left against the right in the Ukraine via the ever-present neo-Nazi contingent there, that a war be created in order to get bonds back to highs so the taper would have no ill effect. Sheer genius, that Yellen!
Everyone likes to make fun of Ol’ Hugh Hendry, but here I am, still shooting at all your stock market boobs from my Treasury redoubt.
Pretty tight range the last few days. Wonder where we break from here.
If bonds decline do equities rally? Seems like if rates rise, both could fall together.
Why is JAZZ a better pick than something with a yield like NVS?
Because JAZZ doesn’t put you to sleep (pun intended).
pun appreciated
One word. Socialism. Welcome to Japan.
Rates will either descend or spiral out of control
(yes I’ll be “that” guy today)
I feel like they could grind sideways too, maybe.
Everything has an expiration date, even misery.
I’ve been here for a year and hands down that is your best quote i have read. Thank you for what you do.