Reading the Tea Leaves
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Bonds Away!
Over the past five weeks, the normally boring bond fund TLT has ripped 17% higher, and it has pushed over its medium-term descending trendline today. Bond bulls have been on fire lately, and all the chatter is about multiple interest cuts in 2024 (which, let’s face it, isn’t because the economy is going to be going great, but will be a bid to stoke the coals).
Next Test for Bonds?
Bonds continue to be exceptionally strong, and while I thought they’d stop at their price gap, they smashed through it like something which smashes through things. I’d suggest the next two tests for TLT would be the descending trendline I’ve drawn and, next, the horizontal.
Corporations Ducking Interest
About-Face Bonds
If stocks are ever going to experience weakness again, I think the bonds have to lead the way. As such, I have been keeping a close eye on TLT, which has been in its own private bear market for approaching half a decade now. We can see that, finally, TLT is getting some selling now that it approached its horizontal resistance.
