Chart of The Day: Rate Vol Leads the Way
Where Macro Meet Markets
If bond traders are the smart money, then equity traders are the dum.. optimistic money.
Bonds lead the way. Don’t believe me? Read “Is the Duration Trade Over?” to see why I went short bonds ahead of the inflation trade ahead of everyone else.
The VXTLT ($TLT volatility index) is breaking out through 18 while the VIX is trading at a discount.
The VIX/VXTL…