I happen to like US treasuries on the basis the economy is slowing much more than anyone thinks.
Short-term, who knows? Certainly not those who intend to call every uptick or downtick as if it’s meaningful, especially on days of economic news, like today.
Here is an image that shows what I mean.
I did not stitch that together. The items were back-to-back on a news feed site I follow.
Which is it?
At 2:20 PM Bloomberg reported Treasuries Rise
At 2:20 PM MarketWatch reported Treasuries Fall
Here is another MarketWatch image.
Click on the MarketWatch “Treasuries Fall” link and this is what you see.
This kind of nonsense happens all the time. Headlines change from Bonds Fall Because of Tapering to Bonds Rise Because of Tapering. Very few notice how ridiculous this reporting is, or how headline stories change 180 degrees in seconds.
May as well have a robot “write” these stories. Perhaps I mean “right” these stories. Or is that what’s happening already?
Mike “Mish” Shedlock