Just keeping tabs on the most important indicator out there (IMO of course).
With reference to the previous post on sentiment, maybe it is not such a wonder that long-term bonds (TLT) are over bearish and shorter-term bonds (SHY, IEI) are over bullish. The liquidity bid has been flying down the curve to short-term bonds in the 1 to 5 year range, which is exactly why I’ve held SHY (1-3 year Treasury notes) as a cash equivalent to this point.
But that is a digression. The curve is moving to steepen and if/as it continues (as I expected for 2020 even before the Corona effing virus) it needs to be interpreted for deflationary and/or inflationary implication. Source: CNBC
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