Editor's Note: Below is a brief excerpt and chart from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.
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Instead of opining on what inflation should do, we Bayesian boys measure and map what inflation is doing. Even if you look at break-evens, the 5yr 5-year Forward Break-even rate was down on the week to 2.21%. The other not surprising takeaway from the bond market was the new Bearish @Hedgeye TREND break-down in both Junk (JNK) and High Yield. High Yield saw its yield jump another +5 basis points last week to +6.17% (that’s up +28 basis points in a month). *note: Junky High Yield is not where you want your portfolio to be levered in Quad 4 either |
