- Every time I have seen the consensus this bearish on treasuries there has been a rally.
- I don't believe the economy could withstand much higher rates. If rates go much higher the rest of my portfolio should do very well as I am not positioned for a strong economy.
- I am long treasuries via a short of the TBT. The TBT is a levered ETF that has lost over 30% of its value in the past 18 months even though treasuries (TLT) have done nothing.
I will be out at meetings for the next few hours.