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Seth Golden posted an update 5 years ago
Again, the above is mostly about the accelerants of recent rates moves/ front-end action and shouldn’t be confused with the underlying “cause” of the DM bond rally which is, simply put, global growth jitters.
Whatever the case, any abatement of the insanity will likely help stabilize equities. And speaking of equities, McElligott notes that “the window for a pullback in US stocks is ‘now’ into the month-end ‘turn’”. That’s a reference to his “March surprise” thesis which included the caveat that, once the month flipped to April, the dynamics change.