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…