Loading ...The rates (and scum:) are the wild card. They’ve been going up since August. Maybe oil had a headwind on the way up and would have been even higher. I guess the rocket attack in Arabia last night turned into nothing so far. If the rates start dropping as per stepper, then even PMs looks good. Why is this crap always a puzzle? But we can handle it, we’re men. 🙂
Part of link:
The swift advance in yields hit tech stocks particularly hard as these companies have relied on easy borrowing for superior growth.
Tepper believes Japan, which had been a net seller of Treasuries, could start buying the U.S. government bonds again following the surge in yields. The potential buying force could help stabilize the bond market, Tepper said.
“That takes a major risk off the table, and it’s very difficult to be bearish,” Tepper told Kernen.
Another bullish catalyst for stocks in the near term is the fiscal stimulus package that was just approved by the Senate, Tepper said.
David Tepper is getting bullish on stocks, believes Treasuries sell-off over