Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focus
That's the highest 10 year since the 2000's
https://stockcharts..../yieldcurve.php
Growth Numbers Set to Show USA Remains World's Economic Powerhouse...
It Was Supposed to Slow by Now. Instead It's Revving Up...
10-Year Yield Tops 5% First Time Since '07, Keeping Traders Wary...
'The bond vigilante is coming back'... Ackman says too much risk to bet against...
Bill Ackman covers bet against Treasurys, says ‘too much risk in the world’ to bet against bonds
He believes a fast-deteriorating economy would suppress bond yields.
“The economy is slowing faster than recent data suggests.”
He first disclosed his bearish position on 30-year Treasury bills in August, betting on elevated yields on the back of “higher levels of long-term inflation.” The 30-year Treasury yield has risen more than 80 basis points since the end of August, making Ackman’s bet profitable.
TLT is looking like a s/t bottom.
Edited by Rogerdodger, 23 October 2023 - 09:43 AM.