Barron's is out with a new poll of portfolio managers, asking them their outlooks for the market and the economy.
We summarized the results here, and flagged an interesting contradiction on how investors perceive Apple here.
But this may be the most interesting nugget: To say investors are bearish on Treasuries is an understatement.
Barron's
Just 2% are bullish on US Treasuries! 81% are bearish!
Now this may not seem ridiculous, because you hear big name investors talking smack about US Treasuries every single day if you turn on financial TV. Almost all the greats hate Treasuries.
But consider the fact that US Treasuries have been on a 30-year bull run. Here's a look at how yields have fallen virtually unchecked since 1982, meaning the amount investors have been willing to pay for Treasuries has gone up this entire time.
Now at some point the run will exhaust itself, but can you imagine any other asset that was in the midst of a 30-year bull market, that had just 2% of the investing population saying they were bullish? Frankly, it's unfathomable.
People have long said Treasuries were in a bubble, but it's hard to believe any bubble has burst with just 2% being long.
For more poll results see here >
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