Plus, reading tea leaves in the recent action in Apple and Salesforce.com.
With unemployment at 10%, the 'water in the pot' is pretty cold.
Here's how Fed policy should affect bonds -- and your portfolio.
But I'm more interested in what's happening beneath the surface.
Here's my 'counterintuitive' bet on lower Treasury prices, and therefore higher rates, right now.
There's only so much leverage that can be used and it, like so many other things, has diminishing marginal returns.
Then let's take a look at Tuesday's action, and I'll tell you why a rally on Nasdaq Wednesday wouldn't be a surprise.
Covid-19 has not eliminated the power of compounding, it has just made certain people forget about it.
Unlike equities, or at least the Nasdaq 100, there is little conversation about credit getting back to all-time tight levels -- or even where they were in January and February.
The Pershing Square founder's talk on CNBC of shorting high-yield bonds should be taken with a grain of salt.