Yesterday, when we commented on the latest whiplash of yet another record batch of Treasury short we had one simple comment:
TSY shorts pic.twitter.com/qsRfD8XdbG [6]
— zerohedge (@zerohedge) June 29, 2015 [7]
And, sure enough, here comes the most whiplashish crash test dummy of them all:
Monday, June 22nd… we sold the long end of the US bond market and recommended doing so either by selling the bond future and buying the Ten year note… the bearish spread in the bond market… or by selling the Ten year note future alone. We’ll use the Ten year as our guide and we had every opportunity to sell it at or near to 126 ¼.
However, because of the flight to safety, the long end if flying to the upside and it is wisest to head to the sidelines and we can do so with a small profit taken. We’ll do so… immediately.
To be followed, logically, moments ago by:
- UST 10Y YIELD PARES DROP, TOUCHES SESSION HIGH 2.382%
Because the humor must go on.
