My largest short position continues to be long-term US bonds, by way of the fund TLT. This is down about 0.8% today, continuing to tiptoe its way toward what I hope is an historic failure at the 82.68 price level. I’ve tightened up my stop-loss price to 87.30.
Bonds have been in a bear market for half a decade, and my view is that, should the aforementioned support level break, we’ll have completed yet another important continuation pattern and should keep pushing lower (and, thus, rates will keep pushing higher, no matter how much Trump jumps or and down about Powell and no matter what bootlicking sycophant he ultimately installs to replace him as the Fed chief).
Perhaps this has something to do with why the world isn’t exactly clamoring for US bonds anymore:
