The stock market is being pumped up to all time highs despite declining earnings and a sagging economy. The strategy in use appears to be massive shorting of VIX futures. Other than the fact that it is deliberate manipulation, who and why are far from clear. Truly bizarre.
Fortunately, Treasuries are continuing to be well bought and are acting as the grownup in the room. But I’m ready for the sub-1% yield anytime, please.
30-year government bond yields.
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