Safety Dance

I say, we can go where we want to
A place where they'll never find
And we can act like we come from out of this world
Leave the real one far behind
--Men Without Hats

Standout action this am is in Treasuries (and other sovereign debt perceived as 'risk free').

Ten year yields are back down near all time lows this morning at ~1.45%.

Govies have been trading out of synch w stocks recently. SPX is near top of trading channel while bond yields near record lows. Doubt the divergence will last.

position in SPX