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This Market Is Weaker Than a Wet Paper Bag
Here’s the magic number: 124.07. That’s the number you need for shorting U.S. government debt.
In my DailyWealth column April 13, I said if the long bond fell below 124.07, it would signal a bond bear market. Well, the long bond closed at 123.26 last Tuesday and is now making new five-month lows…
The "long bond" is the nickname for the 30-year Treasury bond. It’s the longest-dated debt instrument the U.S. Treasury issues. And on March 18, the Federal Reserve announced it would buy $300 billion "longer-dated" Treasury bonds.
This was the news the bond bulls had been…
4May2009 | Stansberry and Associates | 0 comments | Continued
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