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To help contextualize this morning's market moves around the world, below are insights and analysis from our research and Hedgeye CEO Keith McCullough's Twitter feed.
Before You Go
"The US Treasury 10-year Yield continues to break-down as US inflation expectations do, 2.85%," McCullough wrote this morning.
That's bad news for Wall Street...
Data on big bank and hedge fund positioning reveals an overwhelming majority of Wall Street is short Treasury bonds. In other words, consensus is long rates rising. Meanwhile, rates are falling. The 10-year Treasury yield has fallen -25 basis points from its May high of 3.127%.