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The move in equities has been directly connected to the bear steepener. >
Bear Steepener has been directly connected to duration issuance >
Bear Steepener has been directly connected to duration issuance >
The following dates are the government auctions for duration into the end of the year:
10/11 with 10-year note issuance.
10/12 with 30-year bond issuance.
10/18 with 20-year bond issuance (although less significant than 10y and 30y).
11/08 with 10-year note issuance.
10/11 with 10-year note issuance.
10/12 with 30-year bond issuance.
10/18 with 20-year bond issuance (although less significant than 10y and 30y).
11/08 with 10-year note issuance.
11/09 with 30-year bond issuance.
11/20 with 20-year bond issuance (although less significant than 10y and 30y).
12/11 with 10-year note issuance.
12/12 with 30-year bond issuance.
12/20 with 20-year bond issuance (although less significant than 10y and 30y).
11/20 with 20-year bond issuance (although less significant than 10y and 30y).
12/11 with 10-year note issuance.
12/12 with 30-year bond issuance.
12/20 with 20-year bond issuance (although less significant than 10y and 30y).
The bond market has been moving in expectation of the issuance which means after it is realized then we are likely to see some bottoming in bonds as long as growth and inflation DON'T surprise to the upside in Q4 (which seems unlikely rn in my analysis)
math is math is math
people buying TLT all the way down lol 👇
people buying TLT all the way down lol 👇
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