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Below is a brief excerpt transcribed from today's edition of The Macro Show hosted by CEO Keith McCullough.

McCullough: Don't Panic On Long-Term Bonds - 0 lsfPffX0yoKjIFtt

Some new subscribers had a bit of a panic attack with the 10-year Treasury yield recently.

There were some murmurs and commotion about whether the move going forward was to cut some losses in Treasuries.

If you have losses in Treasuries you must be really new around here.

We've been saying to get long Treasuries since September of last year.

If you put on a recent trade and Treasuries went down… take a breath. Don’t have a panic attack. Just buy more when the 10-year yield is at the top end of our Risk Ranges.  

Our Growth, Inflation, Policy model suggests inflation will accelerate from here. That's why I’ve added Treasury Inflation Protected Securities (TIPS) and I also stated that I prefer the short end of the Treasury curve as compared to the long end of the curve.

Furthermore, the top end of my Risk Range for the 10-year Treasury yield implies a lower high and the low end implies a higher low. What does that mean? I don’t believe that you can make the kind of money we’ve made for a year on the long end of the bond market or in the Long-Term Bond ETF (TLT). That was one of the best moves you could've made in your career! You’re not going to make that everyday just because you subscribe to Hedgeye.

So don’t panic on that. Just trade the range.

At 1.55% on the 10-year yield sell some TLT at 1.85% on the 10-year you buy some TLT! Its just range bound in an obviously bullish outlook with TLT and a bearish outlook for bond yields. We’ve also added other things to be long in lieu of that, like TIPS.

Don’t panic. Execute.