What a week, ALL the CB'ers signaling higher rates ahead. The 'reason' they give is stronger growth and inflation...but that's not the REAL reason which is: the market lets them. The CB'ers will reload if the equity markets stay buoyant, it's just that simple.
The markets bought the story hook, line and sinker with Tues-Fri. being a spring love fest for the market with junk doing exceptionally well vs the killed long UST bond.
The Temp reads +3 growth with -3 inflation for a zero reading. LQD is still the favored asset, with TLT being reduced and JNK/TIP added.
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