We have seen some positive correlation between bond yields and stocks recently.
Adding long-dated US Treasuries as a portfolio hedge now makes more sense. Source: Bloomberg, Barclays
Yesterday, S&P 500 and 10y Treasury yield rolled over intraday ...
markets showing more concern for growth as opposed to inflation when it comes to tariffs. Source: Kevin Gordon @KevRGordon on X, Bloomberg
The Trump 1.0 put was on equities $SPY
Will the Trump 2.0 put be on us treasuries $TLT ??? Source: Geiger Capital @Geiger_Capital on X, Bloomberg
While equities took a beating Friday, bonds quietly broke out—closing above 5 months of trendzone resistance.
Right into PCE week… Interesting. $TLT Source: Trend Spider
GS: Short interest in $TLT is near century-highs
Source: Mike Zaccardi, CFA, CMT, Goldman Sachs
Treasury Secretary Scott Bessent says Trump 2.0 focusing on 10Y yields, not Fed
Bessent repeated his view that expanding energy supply will help lower inflation. For working-class Americans, “the energy component for them is one of the surest indicators for long-term inflation expectations,” he said. Cheap capital is coming... Source: www.moneycontrol.com
A majority of stocks (59%) underperform Treasury bills over their lifetime and more than half end up having a negative cumulative return.
“Don’t look for the needle in the haystack. Just buy the haystack.” - Jack Bogle Source: Charlie Bilello, Peter Malouk
Fixed income: Credit is still the place to be
Spreads are as tight as they've been this entire bull market: Source: J-C Parets
