Editor's Note: Below is a chart (and excerpt) from today's Early Look written by Hedgeye CEO Keith McCullough.
For all of my friends and foes who didn’t like the Treasury “charts” back when they should have been buying them (SEP, OCT, NOV), I have a sneaking suspicion that some of them like those charts now:
A) UST 2yr Yield dropped another -7 basis points last week to 2.71% and remains Bearish TREND @Hedgeye
Obviously when Bond Yields are Bearish TREND, being long Treasury Bonds = Bullish TREND @Hedgeye. After 5 straight weeks of bond yields falling, the charts look more like our Quad 4 in Q4 research call.