Loading ...Funny u shud ask about rates, but I did some ultra long term work on them today.
The Bull died in 2020, that is the move down from the 1981 Hi’s was over , when rates crashed in 2020, ever since has been a new Bear mkt, where rates are now heading higher, this recent jump has started the 3rd wave up, in the 1st wave up etc….we have yet to break the downtrends but in the 10’s that is @2.5% in the 30’s @ 3.3%…The 10’s are flirting with the Mch 21 Low rate,,,,take that out @.1.77 and we are away.
Short term we are well o/b and may need a pause……but longer term, this is huge….I think this is what is scaring the SM…..but remember when rates rise and a clear trend is seen, then buyers are few and far between, the mkts can stay O/B for a very long time…and as I said earlier, this latest move is confirming that rates are in a new Bear ( rates riseing ) and that means a over 30 year Bull has died.
The Adens are on Christmas holidays…but on rates I think they are dead wrong.
Cheers