I had to sell that long Treasuries position. I couldn’t gut it out past the 11am EST portion of Yellen's chat yesterday.
The proverbial waterfall of fund flows continues out of this epic Bernanke Bond Bubble. There will be nothing “tight” about timing that – it happens slowly, then all at once (h/t Ernest Hemingway).
The 10-year Yield is holding its 2.64% TREND support. More to be revealed.
Editor's note: This is a snippet from CEO Keith McCullough's morning research. For information on how you can become a Hedgeye subscriber please click here.