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10 Year Yield Plunges To 2.57% As Bond Market Goes Full Retard
The surge in the 10 Year has just gone full retard. In the meantime, behind the scenes of Wall Street's rates desks there are some serious Tijuana donkey shows going on.
And here, courtesy of credit trader, is what an exponential move higher looks like. In this case, this is the 10s30s, which BofA recommended flattening last week. Coin flipping indeed.
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"10s30s"? That they are reduced to playing such arcane games - and calling it "investment" - shows to what straits western economies have been reduced...
Full Retard?? Dang, thats not good...
Long time, no post.
In the spirt of the wheels coming off the bus in bonds today, and my increasing sense of dread (Tony Robbins above notwithstanding), I ran across a new WisdomTree ETF (SYM: ELD) that positions itself in bonds of emerging market countries (for some juice) that have been weeded out so all the shitty debt/GDP countries are excluded. It also holds the bonds in the respective currencies of the countries where the bonds are issued. You obviously have rate and currency risk here, but you eliminate the USD from the equation and are also in fixed income markets that have nothing to do with the US. This is a new ETF so track record isn't there and the expense ratio is up there, but in my quest for a 'duck and cover' ETF, this is up there...
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