COULD BOND INVESTORS LATE ARRIVAL BE THE CONTRARIAN INDICATOR EVERYONE HAS BEEN SEARCHING FOR?
I discussed in my last post how bond investors are not the smart money on Wall Street, but perhaps quite the opposite. Here is an illustration about their late arrival to rallies over the several months. Namely the October highs in 2011 and now recently. Whether this means that we put in an intermediate term high here is debatable. I surely won't be selling my longs based on this piece of evidence alone. However, it does deserve consideration within your secret box of market indicators and propaganda.
click chart to enlarge
TNX
