According to the Rosenberg Research president, this year's rate yield shock surrounding the benchmark 10-year Treasury Note is temporary." on Friday. "We're going to peel back to 1%."ended the week at 1.41%. It's now up 55% so far this year and is around 52-week highs. The yield moves inversely to debt prices.
The overwhelming fear on Wall Street is the jump is due to inflation rather than a temporary demand surge linked to the economic recovery. "The problem I have with that view is that all this stimulus is temporary in nature and rolls off next year when we face the proverbial fiscal cliff," Rosenberg wrote in a recent note."That would be on a huge technical overshoot," he said. "A 2% move in the 10-year note I'll tell you would be the same as 3%-plus in late 2018. It's something that you want to buy.
Even though he expects inflation jitters to subside, he still sees trouble for the stock market. Rosenberg, who served as Merrill Lynch's top North American economist from 2002 to 2009,Right now, Rosenberg is negative on big tech and mega cap growth stocks.
TradingNation T Note is as volatile than some of the high fly Tech stocks YTD, while J-Powell & Co says, there is no rate hike in insight before reopening is done, and inflation is over 2%,,,, well, inflation is here for sure, but how much is it now ?
TradingNation Does anyone even listen to CNBC anymore?
TradingNation Lol that guy... is he ever right about anything?
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