Tuesday, August 1, 2017

Quote of the Day: Greenspan sees a bubble!

In an interview yesterday, former fed chair Alan Greenspan spoke to why we've -- for quite some time -- been so stubbornly bearish on bonds:
"By any measure, real long-term interest rates are much too low and therefore unsustainable," Greenspan told Bloomberg News in an interview. "When they move higher they are likely to move reasonably fast. We are experiencing a bubble, not in stock prices but in bond prices. This is not discounted in the marketplace."
A position (our bearish position) that is, lately (always subject to change), being somewhat confirmed by our technical indicators: 

Click to enlarge

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