Bond Watch

the timbers are creaking

It's a challenge to compose a post in an airline seat, but what I've been looking at is too important to ignore, so I wanted to send out this piece to my paying subscribers.

It has to do with bonds. Now, I've written about my view that bonds could enter an entire new phase of their bear market (already in its sixth year!), and I was reminded of this when I noticed that, recently, the /ZB futures cracked its short-term supporting trendline.

True, it's just a short-term trendline, but it plays into what I believe could be a much more catastrophic failure.