As symbolized by the 3 Amigos, the macro backdrop is riding on to its destiny. That forward destiny is a top in stocks vs. gold
When the Pigs fly tends to be when interest rate dynamics say they fly. Rising long-term interest rates, as long as they don’t materially hurt
Amigo #2 made a big pop today and as such continues to rise with #s 1 (Stocks vs. Gold) and 3 (the 10-2 yield curve).
While 10 and 30 year yields are down a bit this morning, the move this week is a step in the direction of the favored
Last summer I could do no wrong. Everything was working and making sense. Then about the time that the 10yr yield began the post-September jigsaw
Out of the three, stocks vs. gold, nominal long-term yields and the yield curve, it has been the nominal yields Amigo that has been the
Some messages from bonds this week, and mercifully no mention of the Amigos even though 2 of them are implied below. :-) 2s and 10s
Well obviously, the banks like the pop in yields. This was a confounding relationship for a few weeks and it caused me a minor squall
It has been frustrating for me trying to manage the long-term interest rate backdrop. I saw all the reason in the world that the 10yr
Folks, the ‘yield’s rising to the limiters’ near-term plan has been frustrating. Not for my own investment and trading because I’ve stayed balanced with a
On Monday we noted the levels that would signal the potential for more than a “blip” of a market pullback if indexes closed below them.
Why has this market been so challenging for me? Well, for one thing a logical connection between the KBE/SPY ratio and yields broke recently as
I am staying patient on this not only because the daily charts have not completely given up the rising yields play, but also because the
Last week these moderators were included in a post about the breakout in long-term yields and its implications… “This week, assuming it is confirmed by