An 'icy' ending: A Wall Street expert sees a critical market metric stretched to 'extreme' levels — and warns of a painful reckoning to come

. Based on historical precedence, when these two metrics cross a certain threshold, it's time for fixed-income investors to get the heck out of dodge.in seemingly unabated fashion, defying the age-old idea that they should trade inversely.

The graph below depicts the relationship between S&P 500 weekly percentage changes, juxtaposed against the weekly percentage change in the 10-year yield.Ramsey continued:"Definitive peaks in the stock/bond correlation have been excellent SELL signals on bonds, with the three-month horizon looking especially risky."

The reading needs to drop by another 5 basis points in order for the top to be definitive. But at this rate, we'll be there in no time.

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