Monthly Archives: April 2012


The 10 year has dropped below 2%.  The 2-10 spread is back down to 1.67.

The continued negative territory in the tips must be offensive to any mortal.  I’m really not sure the purpose of negative real yields.  Other than the fact the investors are simply paying the the US government to carry their goods.  Does the GLD even carry such high expense ratios?

Investors clearly favor treasuries, yet the treasury continues to push the value up further.

This anomaly seems to be even more confusing the inversion we previously had.  I’ll stick to 55 equity 45 fixed for now.