On Monday, I started to short the U.S. bond market.
This morning, after a weak ADP payrolls number (189,000 vs. 225,000, the biggest miss relative to expectations in two years), the yield on the 10-year U.S. note has fallen further -- to under 1.90%. I view this decline in bond yields and increase in bond prices as an opportunity to add to my short bond position. I just shorted more iShares 20+ Year Treasury Bond (TLT) at $131.44 in premarket trading.
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