Along with the Swiss franc and gold, just about the only thing rising today is Treasury debt — and not because of that sorry debt-ceiling deal.
The 10-year note was yielding 2.62% at last check, on track for its lowest close since last November 8.
That may befuddle the Treasury haters (Bill Gross, Eric Cantor) of the world, but it’s no mystery to Pragmatic Capitalism’s Cullen Roche, who writes:
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