Gundlach's indicator, yields and NASDAQ "fear"
Copper/gold ratio has surged and continues to hold "up here". One of Gundlach's "top indicators" sees yields moving even higher.
It is interesting to see yields hold up here without much "desire" to come off. Do we need one more push higher in yields from here to truly shake out people?
Second chart shows VXTLT vs NASDAQ "fear", VXN. MOVE is updating after the close, but as we have been pointing out for weeks, MOVE vs equity "fear", especially NASDAQ VXN, remains one of the top charts to watch. As we wrote on Feb 20;
"Equity people are not often the first crowd to pick up global "risk signals". Note how bond volatility has reacted with rising risk well before equity people woke up to "reality" on several occasions post Corona."
NASDAQ has definitely caught up and reacted...
It is interesting to see yields hold up here without much "desire" to come off. Do we need one more push higher in yields from here to truly shake out people?
Second chart shows VXTLT vs NASDAQ "fear", VXN. MOVE is updating after the close, but as we have been pointing out for weeks, MOVE vs equity "fear", especially NASDAQ VXN, remains one of the top charts to watch. As we wrote on Feb 20;
"Equity people are not often the first crowd to pick up global "risk signals". Note how bond volatility has reacted with rising risk well before equity people woke up to "reality" on several occasions post Corona."
NASDAQ has definitely caught up and reacted...