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Are Bonds About To Crash The Stock Market?
Submitted by QTR's Fringe Finance
There. I've said it. I've gone from pussyfooting around and saying the AI bubble could pop in 6 to 10 months…which I still believe…to the very definitive statement that if the bond market keeps acting like this, the equity markets will get slaughtered. And I mean, wrath of God type shit.
This isn't even a particularly sophisticated thesis. After all, if I'm delivering it, it can't be. It's just math.
Treasuries sold off hard on Wednesday, sending the 10-year yield up roughly 14 basis points to about 5.11%, after touching 5.14% intraday, its highest level since 2007.
The 30-year climbed to roughly 5.4%, while the 2-year jumped to about 4.9%. This is the latest leg of a bond selloff that has been building for months, with the 10-year alone up roughly 35 basis points in September and long-term borrowing costs now pushing into territory we haven't consistently dealt with since before the Global Financial Crisis.