Long the 10y for rising rates, this means bank stonks. This isn't a perma long as I expect Q3/4 to slow down on the YoY comps. Ultimately I see a lower high from the past high we saw. Lots of inflation bulls here and I am one of them, but this inflation is printer induced. Forget to restock the printer and inflation disappears real fast. The pair trade here into Q3 is long XLF and short TLT
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Yield peaked with the 10-2Y inverting, buy the dip in the long bond here for panic at the bottom.
Yorum:
The dip buy in august was a head fake.... more pain still here with the 2y/10y inverting more.
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Likely a top in yields as the economy is getting crushed.