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Editor's Note: This is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here if you'd like to join us in staying a step or two ahead of consensus. 

...So, as Ray Dalio would ask, what is the truth – head fake or the new bull market?


It’s definitely a bull market in long-term US Treasury Bonds. In today’s Chart of The Day we show you how well the Long Bond has done versus something that we have not liked (the Russell 2000) going back to 2014.

CHART OF THE DAY: Head Fake Or New Bull Market? - z bird 08.31.15 chart