Editor's Note: Below is an excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
...For 14 months, my highest conviction macro “call” has always been to fade rate hike fears, buy bonds (and stocks that look like bonds) and to stop being concerned about rates rising until the US growth data starts to undergo a phase transition into #GrowthAccelerating.
That’s why some people really don’t like me. They’re the guys who are short bonds on “valuation” and long the Financials on the same. With the 10yr US Treasury Yield having crashed -32% to 1.53% YTD (Utes and TLT +16% YTD vs. Financials up less than 3%) I don’t suck in 2016.