Highlights
- Quietly, bond and stock prices have become uncorrelated once again, today being a good example.
- Ironically, as most have abandoned the recession call, it appears the equity market is now growing increasingly more concerned about an economic downturn.
- For now, our thinking is that the TLT bond ETF still works its way higher to $100, with a brief pause in that rally just getting underway now.
- If we're right about this change in stock/bond correlation, then a setback in bond. . .
