There ain't no easy way out
Yeah I'll stand my ground
And I won't back down
--Tom Petty
Stocks rallied on Friday but bonds sold off. Ten year yields were +4% on the day and closed at the high for the recent move.
Thus far, long bond rates have not given back ground and remain above recently defined support at .205ish. Moreover, the TNX chart pattern is developing a bullish cup-and-handlish look.
Am tempted to add to my Treasury short which is about the only thing in my book currently 'working.'
How long will risk markets stomach days like this before carry traders start nervously eyeing the exits.
position in SPX and Treasuries
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
1 comment:
A thousand dollars invested at 8% for 400 years grows to $23 quadrillion. But the first 100 years are the hardest.
~Sidney Homer
Post a Comment