Today we bought the iShares Barclays 20+ Year Treasury Bond ETF (TLT) at $119.92 a share at 3:24 PM EDT in our Real Time Alerts.
Earnings continue to slow, coinciding with our #EarningsSlowing theme we’ve been focused on over the past month. Google (GOOG), Intel (INTC) and FedEx (FDX) are all perfect examples of the trend. Thus, we are buying bonds are higher-lows. Here’s what Keith McCullough had to say in a note put out early this morning:
“10YR – seeing one of the many moves we have seen in 2012 of bonds selling off fast, but the 10yr yield making consecutive lower highs; seeing that again this morning at 1.81% vs the 1.89% we saw at the Bernanke Top in SEP #EarningsSlowing”
