Well we are seeing a bit of relief today in the 10 year treasury yield which is now trading at 4.56% which is off about 6 basis points from last weeks close. I don’t see any particular reason for the movement–could just be that lots of bond folks are taking a long holiday and prices move with small volume.
Equities got hammered earlier today, but have bounced quite a bit from the lows–in fact more than 50% of the earlier losses have been erased. Vloumes on the S&P500 are pretty decent–don’t think these folks are taking a long holiday.
No trading for me today–although I am going to once again review the portfolio, which is green today for a change, and see if there is a need to continue some rearrangement of holdings.
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The small drop may be a simple correction from the overdone increase lately?
I was listening to an end-of-year wrap-up and 2025 look forward podcast featuring Felix Zulaf. Although no one really knows what will happen going forward, including him, over the years I have found him to be better than the average talking head macro commentator cluttering the airways and internet with useless and inaccurate predictions. He sees a range of 3.5 – 5% ahead for the 10 year note in 2025. For what that is worth. Happy New Year.