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TLT looks to have found its 50% retracement level to be stiff resistance and on the opposite side of the fence, the yield on the 30-year bond finds itself on rising support.
Last week I ask if something smelled funny in bond land and it still seems too! (see post here)
Three days does not make a trend, yet does is seem odd to you that TLT has been down 2 out of the last 3 days and stocks have as well?
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The chart above was produce this past Friday, reflecting a high degree of correlation risk is present around the globe…little place to hide during market declines.(See Different yet look alike)
Usually Govt bonds do well during equity declines….is something different going on now? TLT is not down much today, yet lets keep an eye and see if something unique is at hand or if this is just a couple of day fluke.
Treasury weakness alongside equity weakness, and gold rallying while the Dollar rallying against fellow Fiat. Ben said “gold isn’t money”, but it sure looks like the the market deems it more a desirable form of money than bank notes for now. Some strange things (not) correlating.