CNBC and Fox Business This Week

I am going to be on CNBC’s Squawk on the Street on June 24 at 10am and Fox Business’ Markets Now on June 25 at 1pm.

Going out on a limb that the bond market just bottomed and is about to begin a meaningful rally. Bond proxies and like stock sectors to follow. Telecom, utilities, etc.

Volatility should be here for a while but that’s no reason to go hide in a bunker!

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Bond Market Sending Warning Sign

Tuesday’s stock market rally looked better in the media than in reality. Early strength was sold and there was not much conviction from the buyers. Unless we see the bulls step up and close above Tuesday’s high, stocks look like they need a pause or pullback here. Closing below Dow 15,175 should set off even more selling while closing above 15,550 should entice more buyers back in.
 
I am concerned here that high yield bonds have taken it on the chin and even investment grade has softened. This was also seen last quarter without any consequences, but the more interest rate sensitive sectors like utilities, REITs and telecom are also under serious pressure. Might this be the first significant crack since the rally began in November?

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