There are two big reasons why the odds of Treasuries moving higher from here are dismal.
Following ex-Fed board member's advice would actually give President Trump reasonable cause to fire Powell and politicize the bank even more.
In the near term, I think bonds are way overdone.
There is no real connection to the economy right now because of globalization.
I start this week in risk-off mode and want to sell every rally in risk.
Literally at the same time Powell was speaking, trade tensions were ramping up.
The Fed Chair's address this day will move markets. This we know.
My advice after diving into the 15-page document: Tighten your exposure to stocks, and don't even consider selling your bonds.
Recent U.S. jobs creation wasn't as great as first thought, which isn't welcome news in an economy powered by consumer spending.
Two big points lead into what Jay Powell will be saying in Friday's speech.