Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

id put it in the rigging category, but thats just me. i dont know if you saw but long bonds are rallying like crazy today
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I saw, but so what? It doesn't mean didley to gold bulls unless/until the yield curve starts widening and it clearly is not doing that.....


http://www.gcm.com/ust/us_agencies.asp?start=1/1/2005&cc=&sc=&title=&cal=&sm=&am...

Since Jan. 18th, when I started to seriously track the yield spread in hopes of catching the eventual reversal, the 2/10yr spread has narrowed from .961 basis points to .834 as of last night, and the 5/30yr spread has narrowed to .827 from .987bps.

No meaningful Au rally in sight yet, I'm afraid..