Interesting interest rates…

Posted on Jan 16, 2014 by in Letters

The galaxy of interest rates appears to be entering a new phase in a galaxy far far away...  We have closed our shorts on the long terms, TLT. and now it appears that the issue is headed upwards.    Against all economic reality, we might add.  Is there in this cosmos a being who believes that lower interest rates are possible?  Perhaps if we suffer  a deflationary implosion, but otherwise we  still believe (or adhere to, since belief is something which doesn't occur in our religious system) the analysis we have published several times here that a massive 24 month top has formed and the devil (or Pat Roberts) is to pay.  Here's the chart again:

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