Where We're At: Long Bonds & Crashing Global Equities

rate hike? WHAT RATE HIKE?

Where We're At: Long Bonds & Crashing Global Equities - Slow growth cartoon 09.11.2015 copy

There's been a massive rally in Long Bonds today as the Fed tacitly confirmed our #GrowthSlowing macro theme yesterday. On a related note, we are still advising our subscribers toown TLT.

Where We're At: Long Bonds & Crashing Global Equities - 10yr treasury yield

Meanwhile, in equity markets...

There have been fairly stark drawdowns across global equity markets year-to-date. Another symptom of slowing growth. Here's an abbreviated YTD scorecard: 

  • S&P 500: 0.0%
  • Dow: 0.8%
  • Nasdaq: -2.9%
  • Russell 2000: -3.5%
  • Euro Stoxx: -12.1%
  • UK, FTSE: -1.7%
  • France, CAC: -8.4%
  • Germany, DAX: -11.3%
  • Italy, FTSE MIB: -21.5%
  • Spain, IBEX: -13.1%
  • Japan, Topix: -17.8%
  • China, Shanghai Comp: -15.0%
  • South Korea, Kospi: 0.6%