Stock and Bond Market Levels – This is Big

In October, I warned of an important behavior change in U.S. stock markets (see here) and also identified the bond market low (see here – got lucky and nailed the low tick).  Major U.S. indices have rallied 10%+ in the last 4 weeks after entering ‘bear market’ territory.  So, what now?  The DJIA has returned to a major long term parallel and the 10 year U.S. T-yield is a few ticks shy of old lows (charts below).  I’ll go out on a limb and say that these markets are testing important barriers.  Obviously, macro implications are significant.  Good luck!



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