Are Stock Traders Actually More Pessimistic Than Bond Traders?
zerohedge.com / by Tyler Durden / May 31, 2017 8:56 AM
Authored by Kevin Muir via The Macro Tourist blog,
As a former equity guy, it pains me to say that when the bond and equity markets are at odds, it usually pays to go with the bond guys. Let’s face it, the bond guys are better at math, often smarter, and less likely to fall for a story. Therefore I am a little at a loss regarding this next chart, as it appears the stock jockeys are more sanguine about rates than the fixed income crew.
Yesterday the SPDR Utility ETF closed at a new all-time high. With all the excitement regarding the FANG stocks, along with the manic chasing occurring in TSLA and bitcoin, you would figure that sentiment would be bubbling over. Shouldn’t investors be dumping utility stocks like University students returning on Thanksgiving weekend to their old high school sweethearts? Instead, we find investors gobbling up utilities like rates are never going higher.
The post Are Stock Traders Actually More Pessimistic Than Bond Traders? appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/05/31/are-stock-traders-actually-more-pessimistic-than-bond-traders/
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