Hisssssssss BOOM! (10-Year Treasuries)


Hang on to your asses folks….

TNX = 10-Year Treasury Bond

3% appears to be a lock, and frankly I think 3.4% is likely as that’s the -61.8% target.

This would normally not be a “big deal” except that a huge part of the premise behind the market’s rise has been “ridiculously cheap” money (really credit) source games.

I have noted that there’s a secular change occurring in rates, and I’m not really inclined to repeat myself in detail here today.  But this much I will say — the evidence continues to mount that this change continues apace and as it does all of the talking heads who have put forward a premise that the last 30 year trend will continue despite the impossibility of it happening are setting you up to be offsides as a major shift in the direction of markets occurs.

You’ve had plenty of warning — if you get caught with your pants down this time you deserve it.

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