“This is one of the biggest moves ever in Treasury volatility,” said Hedgeye CEO Keith McCullough on The Macro Show. The MOVE Index, which measures the implied volatility of U.S. Treasury bonds, has skyrocketed nearly 2800 basis points over the past month, a historic move.
What does that really mean for you?
“The Fed can’t see inflation. They don’t really know… They’re the most inaccurate forecasting entity maybe ever, and that’s what the market is saying,” explained McCullough.
Hedgeye’s process, on the other hand, has accurately called major shifts, including the removal of nearly three rate cuts between now and January.
“That’s the process in motion,” said McCullough.
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