Look Who is Still Not Buying the Bond Bear

Why, it’s the Pigs. Despite all the interest rate hype the Banks, which should benefit from a breakout in long-term yields, are still bearish.

In a now public update yesterday we looked at the reasons 30 year yields may not continue to rise, despite the opinion of chart jockeys far and wide (including me, as I see the pretty chart patterns on yields).

NFTRH; A Deep Dive Into the 30yr Bond Yield (high priority)

Yet here is the BKX dropping below the moving averages again despite the recent ramp in yields.

Worse yet, it’s leadership to the S&P 500 remains under much pressure and trending down in the face of the recent spike in 30 year yields. When considering the info presented in the update a bond bear (and stock market bull for that matter) might want to at least stop for a sec and think… ‘hmm, what’s up with that?’

bkx/spx

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