We interrupt this raging bull market to update you on some historic positioning in the bond market that is sure to impact your portfolio, whether you like it or not.
Even if you don’t trade bonds, this is really really important.
You see, I know it’s easy to sit back and chill out with the S&P500 making new 52-week highs, the Dow Jones Industrial Average and Dow Transportation Average making new 52-week highs and, of course, the Nasdaq100 making new 52-week highs after posting its best first half to a year EVER.
Market breadth continues to expand and sector rotation is frustrating the hell out of anyone trying to short this market.
The thing is, what even changed?
What happened that stocks have absolutely been ripping higher since last year?
Positioning.
It’s not the economy that drives stocks. It certainly isn’t fundamentals.
It’s positioning. [Read more…]