Editor's Note: Below is a chart and excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
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The US labor market remains classic #LateCycle, but if you’re looking for pending headline-tourist-news that gets consensus to believe their record net SHORT position in the 10yr Treasury (see Chart of The Day), this should be a big part of that short-term narrative. That’s the short-term. If you’re an intermediate-to-long-term investor who is trying to pivot from Quad 2 (long either US or Global Growth) into long duration (low beta Fixed Income), this is a better time and price to do so than any other time in the last 3 years. |
