Despite near-record Treasury short speculative-positioning [3], 30Y Treasury yields just hit a 2.93% handle - in line with the yield at the Bullard lows in mid-October. The S&P 500 is 200 points higher... Discuss...
The S&P 500 is now trading 200 points rich to Treasury markets (or 30Y Treasury yields should be 55bps higher - despite world GDP expectations plunging as fast as oil prices)
[4]
As the S&P 500 has now closed above it 5-day moving-average for 28 days (today will be 29)...
[5]
This has never - ever - happened before in US equity markets.
Charts: Bloomberg
