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

McCullough: How To Risk Manage The 10 Year Yield  - 3 18 2020 1 59 14 PM

The 10 Year Yield, it’s doing exactly what I thought it would. It put in a higher low, and now it’s racing towards the top end of the range (top end this morning was 1.21%).

It did exactly what I told you it would do, as it bounced towards the top end.

Why did that happen?

Because Treasury Bond Volatility Index is moving! It's just moving on up. That’s what is happening. You are seeing Gold Volatility breakout to 45 and maybe hit 50 today. These things are uninvestable when that happens on a very short term basis.

Our long term position in Treasuries was established with the 10 Year Yield up closer to 3.2%. If you can’t handle 1.2% and trade around it, you're going to have to get a little better at this.

You don’t have to sit on your hands all the time. EXECUTE.

McCullough: How To Risk Manage The 10 Year Yield  - 3 18 2020 1 56 08 PM