It’s Time for a Rest…

I am downgrading my stance on the 10-yr Treasury from “Conviction Bullish” to “Bullish”.  We may see continued weakening in Treasury prices (rising yields) once the QE suspense is resolved.  I believe that it will be a sell on the news type of event, however, I don’t believe that the losses will be large given that the economic outlook remains very uncertain with the specter of a double-dip continuing to hang over the economy.  There are plenty of negative exogenous threats that could tip the economy back into recession.

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