Treasury Yields Are Puking

As stagflationary signals grow louder (after this morning’s ugly Services survey data), Treasury yields are plunging with 10Y back below 1.50% (testing the post-Fed/Bullad/Quad-Witch chaos puke lows)…

Source: Bloomberg

And 30Y yields have plunged back below 2.00%

Source: Bloomberg

And the pain may just be starting as JPMorgan’s latest Treasury survey showed the world is once again short bonds.

All of which doesn’t bode well for Small Caps (value) relative to Nasdaq (growth)…

Source: Bloomberg

As yields began to reverse so Growth has massively outperformed value…

Source: Bloomberg