If Everything’s So Awesome, Why Did This Happen Yesterday?

Monday saw US equities ramp exuberantly on the back of a one-way street in USDJPY as the narrative proclaimed that "the world didn't end" and therefore we should buy stocks. There's just one thing…

The biggest bond ETF in the world saw the biggest inflow of funds in its history at the same time.

In fact, TLT – BlackRock's 20+ Year Treasury Bond ETF has seen no outflows for 12 days.

Inflows have averaged over $150 million per day for the last week, which, as @SentimentTrader explains has led to significant gains 3-, 6-, and 12-months later…

 

And just in case you were wondering what these 'crazy' bond-buying freaks are seeing that the 'smart' equity investors are not…

It's the collapse in actual 'hard' economic data – as opposed to the survey-based 'soft' data that remains full of hope.

via http://ift.tt/2xiUuRd Tyler Durden

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