Bond party over?

Posted on Aug 27, 2010 by WHC Bassetti in Letters

This looks like the top of the bond wave for the moment.  We are buying some TBT -- in effect shorting the bonds.

We remarked a few letters ago on the gap which is being closed that it might be an exhaustion gap.  We also warned against buying bonds. Now we get to say what we most love to say:  We told you so --

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