((Crickets)) In My Inbox

Takeaway: If you get growth right (like we have), you'll get the bond market right.

((Crickets)) In My Inbox - Yield cartoon 06.14.2016

My inbox went from chock-full of “Why rates are gonna rip!” email (2-4 weeks ago) to crickets as the entire complex of long-term global yields falls alongside GDP growth expectations.

Take a look:

  • UST 10yr 1.54%
  • Swiss 10yr -0.60%
  • 10yr Bund -0.16%;
  • even Dutch 10s go negative this am -3bps to -0.03%

((Crickets)) In My Inbox - z tlt

In related news, it's still rainbows and puppy dogs for Old Wall Consensus and its media enablers.

We'll stick with what's working.