I’ve long held that rates are heading much, much lower, and for a long time. Why? Because the economy is heading for a dumpster. And, as God intended, down they go…………
The cool part is that my largest short, bonds, by way of TLT (prompted by this post yesterday) is doing great! The /ZB futures, shown below, have been weak since yesterday’s “good” news about the rate cut.
It seems contradictory that rates would be plunging and yet TLT would be down hard as well, but perhaps the plumbing of these markets is beyond my cranial capacity. They’re all just charts to me.
