America the beautiful. We still have the most attractive sovereign bond yields, especially now that German bunds are -0.16%. Why not take a ride aboard the ark instead, currently yielding a tad over 1.3%? It’s a no brainier.
As you can see, stocks are being harassed by sellers this morning following an overtly naive audience of hecklers who bid stocks up last week after their cocaine supplies dwindled to new lows.
“It’s really just currency and yields. By watching currencies, watching yields, you get a pretty good sense of what’s on investors’ minds and right now it looks like slowing economic growth,” said Jack Ablin, chief investment officer at BMO Private Bank.
“As of Friday’s close in the U.S., that assumed Brexit was no big deal, that it was a non-event,” said Peter Boockvar, chief market analyst at The Lindsey Group. “That was naive.”
“At the end of the day it still leaves a lot of questions about global economic activity,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott.
“I think it’s a market in need of a catalyst,” he said.
Indeud.
TLT is trading north of $142 this morning.
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Like a fool I bought puts on the ark and then went away “on holiday.” I come back and they are trading at a drastically different price. So, I sold them to the lowest bidder and bought a handful of SPY puts and will now hope for the world to end.
Ultra-bond futures are really blasting off. Funny how your ark floating coincides with this retarded “Ark project” in KY getting ready to sink. At the moment, I live about 15 miles from it. Perhaps cosmically significant, we have had more rain this summer than ever before.