Our Top Macro Call Is More Than Double The S&P 500's Return Year-To-Date

Takeaway: Long Bonds (TLT) are beating the return of the S&P 500 by more than 7% year-to-date.

That's right... 

 

Fed fades, rates fall, stocks/bonds/commodities all ramp – so easy a #GrowthSlowing guy can do it!

 

The 10yr Treasury yield is all the way back down to 1.61% this morning (10s/2s back down to 84bps) – that’s 6x in 16 months that you had an outstanding buying opportunity in long-term bonds and/or stocks that look like bonds. Now we go back to no Fed to stress over as both the slowing economic data and Q3 earnings season take over.

 

 

 Editor's Note: The snippet above is from a note written by Hedgeye CEO Keith McCullough and sent to subscribers this morning. Click here to learn more.