Greetings!
My wife tells me that I too often repeat a joke…kick a dead horse. Hey, sometimes people don’t get the joke. Sometimes it is funnier the second time…and kicking a dead horse can be cathartic. They have never had any hesitation kicking me…
Anyway, the 10 yr note has closed at a yield under 2.50% only two dozen times in the last 12,182 trading days (since 1962). Long rates are not likely to go much lower.
SELL ALL Long dated BONDS, bond funds, etc. before you go home from the office today.
| |||||||||||||
0 | Frequency | ||||||||||||
250 | 24 | ||||||||||||
300 | 129 | ||||||||||||
350 | 205 | ||||||||||||
400 | 855 | ||||||||||||
450 | 1352 | ||||||||||||
500 | 941 | ||||||||||||
600 | 1703 | ||||||||||||
800 | 3799 | ||||||||||||
1000 | 1677 | ||||||||||||
1200 | 800 | ||||||||||||
1400 | 519 | ||||||||||||
1600 | 169 | ||||||||||||
More | 0 | ||||||||||||
If you get out of your US bonds you might curse me next week, next month… maybe even for a quarter or two. But, in the end…well, pigs and hogs end up DEAD.
Lastly, yesterday when I first told this “joke” I sent a graph that was labeled “weekly” data but it was actually 1900 “days” of data.
Sorry about that, it won’t happen again…until the next time it happens. How is that for an apology?
All the best,
Leon
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