This article provides a nice summary of reasons why Treasuries may not be a bubble in support of my prior post:
http://www.cnbc.com/id/38785166
I also thought this article provided a nice discussion of the stock market from a technical perspective in the context of the relationship of consumer staples vs. consumer discretionary stocks. What we see is that the "risk-off" trade has persisted even when the market appears to make short term moves upward:
http://www.investedcentral.com/public/chart_of_the_day.cfm
http://www.bloomberg.com/news/2010-08-24/pimco-s-gross-says-mortgage-yields-would-soar-without-u-s-government-aid.html
ReplyDeleteLooks like Gross and crew talking up their own book again.
From the article:
"Gross increased the $239.3 billion Total Return Fund’s holdings of mortgage debt to 18 percent in July from 16 percent the month before, the most since September, according to Pimco’s website. "