Japan 40Y bond yield hits highest in history.
Eventually markets will remember that Japan has to roll over the world's biggest debt load ever assembled. Source: Bloomberg, www.zerohedge.com
A clear message from the market:
Cyclicals vs defensives peaked in late January, with underperformance accelerating in mid-February. If you add to this the inverted 3m-10y yield curve, the odds of recession are on the rise. Source: Bloomberg, RBC
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
