Guest Post: Are Stock Traders Actually The Pessimists Here?
Via Kevin Muir of “The Macro Tourist” fame
As a former equity guy, it pains me to say that when the bond and equity markets are at odds, it usually pays to go with the bond guys. Let’s face it, the bond guys are better at math, often smarter, and less likely to fall for a story. Therefore I am a little at a loss regarding this next chart, as it appears the stock jockeys are more sanguine about rates than the fixed income crew.
Yesterday the SPDR Utility ETF closed at a new all-time hig