Told ya it would be a tough trade going forward…
A lot of huffing and puffing without much to show for it. The A-squad quietly left the party while it was in full swing, and liquidity conditions favorable. The Bs and Cs changed their investment thesis to focus on supply-demand dynamics after the event.
The move in bond yields has little to do with Fed monetary policy or economic data, which of late (on aggregate), has been stronger than expected. Yet, Treasury yields are lower than a month ago.
As previously discussed, for longer-term investors (i.e. people with real jobs), the case for receiving long-end rates USD rates is more compelling as part of a diversified portfolio.
Craig has also updated his latest thoughts on USD rates and the economy which we'll share shortly with our members. It's very good!
The S&P 500 momentum indicators once again proven to be a reliable predict of an imminent market reversal.
What's the score now?
Israel-Hamas
In other news…
The Jerusalem Post
Former Mossad head: Chase down Iranians involved in Oct. 7 attacks
Ex-Mossad head Yossi Cohen said that while he does not know if the Iranians had prior knowledge of the Hamas attack, they were updated after it took place.
Spoken like a true intelligence professional. I have no evidence to back my claim, but here's what we should do. He sounds like most bond traders, missed out on a career opportunity.
