The ongoing risk-parity-delveraging is wreaking havoc with mainstream’s comprehension of how awesome stocks are. As bond-stock correlations force quant funds to delever, so the selling presssure has pushed 30Y yields above thei 200-day moving average for the first time since January and the overnight bounce in equities has faded quickly as Dow futures near 18,000 again…
Risk Parity funds suffering their worst month since December…
Treasury yields at their highest post-Brexit
As it appears rising rates are not good for stocks…
And Gold is being sold too..
via http://ift.tt/2efpAl9 Tyler Durden