What do I make of the Dow's surging action on Friday? I looked for the usual late-session sell-off and surprise, there was none. So clearly, the traders were willing to go home with their plates full -- which is usually bullish. This was all the more unusual since the bonds were hit hard on Friday and rates surged.
Below we see the 30 year Treasury and its semi-crash over recent months. Let's see, how many years of interest and income has this collapse cost its holders? And are we seeing a bond market panic? Out of sliding bonds and into growth stocks, is that what we're seeing? The truth is, nobody knows where to hide, and nobody knows where a safe haven is. Ah yes, the US dollar! How about tying up your money in a five-year CD? Barron's lists them every week but the CDs don't pay a damn!
Thanks to Benny ... Log in or subscribe to continue reading.
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