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I have kept my TLT position, though I could have exited with a small or no loss with the rally before this down leg.
If it is true that there was massive buying of TLT around the rate cut announcement, think how many bonds the etf must have bought and yet the rates rocketed. Very interesting.
But I think the fed will have to buy the market soon or the rates will crater a lot of businesses and also to show they have not lost control.
It did cross my mind that they have decided the wanton government spending has to stop, and high borrowing costs may put the brakes on. Who knows?
aurum