US Treasury yields are plunging again this morning as investors take their pick of factors, but Delta variant fearmongering appears to dominate (and a continued short squeeze)...
10Y Yields are down 12bps this morning, trading below 1.20% back at 5-month lows...
Pretty clear that hopes for a return to an old normal growthy-ness failed...
For almost four months, bonds have been screaming a very different story from stocks...
The last time this happened, did not end well for the somewhat oblivious stock market...
Brace!!