Get that Global Growth is Slowing?
Global bond yields do. Here's analysis via Hedgeye CEO Keith McCullough in a note sent to subscribers earlier this morning:
"Around the world (Swiss 10yr yield hitting new lows this am at -0.40%), long-term yields have had #TheCycle right from a GDP #GrowthSlowing perspective – question now is, with the Fed “probably” raising rates in June/July, what do we do with our league leading positions in Long-Term Bonds, Munis, Utes, etc? I say it’s time to book some gains and enjoy the summer – we can always buy them back."
Below is a chart of the direction of global bond yields (indexed to 100) and what they've done in the past year: