Scott Minerd, CIO of Guggenheim Partners, managing upwards of $250 billion (who’s counting, really?), declared on CNBC today for all able-bodied lads and lassies to board the ark, as the 10 yr yield descends into the sublimely ridiculous level of 0.25% to 1%. This, as you know, would mean a terrific rally in store for those owners of TLT and other government bonds.
It is his conclusion, a man privy to the best minds afforded to finance, that the idiots in Europe, Japan and elsewhere, will henceforth undergo a systematic plan that will eventually destroy their economies, by going deeper into negative rate territory. It is Minerd’s belief that both zebra and man can coexist on this ark, if only for the purposes of salvaging whatever semblance of normalcy left on God’s green earth.
I am presently and incorruptibly long TLT.
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hopefully the ship deck of the ark was not done with lumber liquidator material.
Nice
Sub 1% sounds about right.
Wrong. It will go negative, I guesstimate to the tune of -4%. Of course, that may be a conservative guesstimate.
The biggest bull market hasn’t even hit yet! #Hilary2016
Obama was a warm-up to DOW 38,465k
Anyone mentioning Hillary or named Hillary gets THROWN OFF the ark
An absurd thing to say. There are numerous good reasons to talk about our next president.
Welcome to one more Devil Dog.
There is only one reason for an equity price run at this time: hyper-inflation. The bond market says “don’t worry about it”. Hence the Devil Dog outlook, for anybody with a moderately functioning cerebral cortex.