While stocks continue rising to all time highs on the back of a handful of tech stocks, the tension below the bond market grow, only not in the direction that an all time high in the S&P would suggest. As RBC macro strategist Mark Orsley writes in a Friday note, “I am finding it increasingly difficult to see a near term catalyst for UST’s to sell off. In fact, almost all indicators I watch are flashing a warning that a breakdown in yields (longer end) is increasingly probable” and urges readers to “position/protect for a move to 2.00%.”
This post was published at Zero Hedge on May 26, 2017.
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