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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Crimson Ghost who wrote (70123)9/22/2006 4:38:55 PM
From: Mike Johnston  Read Replies (1) of 110194
 
I think it was John Hussman who pointed not long ago that treasuries have traditionally rallied hard only after credit spreads had widened sharply and stocks and commodities had dropped markedly.

Commodities have indeed eased considerably in recent weeks, but the senior stock averages are at or near cycle highs while credit spreads remain near record lows.

Good observation.
Something doesn't add up. This bond rally looks very disorderly, almost like a panicky flight-to-safety buying that one would see in some kind of a crisis.
But stock indexes are near highs.
And why would bonds react to lower oil prices when they never were reacting to higher oil prices, at least directly.
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