Bond prices are breaking down.
Two Ways to Play Bond Disintermediation
There are two ways to play the disintermediation in bond fund holdings:
1. by shorting fixed income; or
2. by shorting BEN
It is interesting to note that the yield on the five-year U.S. note doubled in November as outflows forced selling.
Margin Debt Surges
This is worrisome.
Thursday, December 23, 2010
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