One of these things is not like the other...

The 30Y Yield just dropped back below 3.00% once again and 10Y is back at February lows - what happens next?

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Despite the exuberance of hope, protection is heavily bid...

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And if Utility stocks' demand is anything to go by, bond yields have a long way to fall...

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Finally - absent the hope-strewn soft-survey data, 'hard' data has decidedly deteriorated...

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So who's right? Stocks... or VIX and Bonds and Real macro data?