Daily Charts - Best Time for Treasuries?

1.Best Time for Treasuries?

Historically treasuries put in their best performance, and stock-beating performance during recessions.

I would note, you don’t *need* a recession for bonds to do OK, but you do need a recession for bonds to do spectacular (hence why bonds are often referred to as diversifying assets… at least outside of inflationary shocks!).

$.SPX(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ $.IXIC(.IXIC)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $.DJI(.DJI)$ $GLOBAL X DOW 30® COVERED CALL ETF(DJIA)$

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2.Here's one thing you might have missed over the past couple of years -- bond market sentiment has been stuck in a range.. what I would call an inflation risk regime

This has helped frame and understand the moves in bond yields:

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3.Pick of the Pack — Global Policy Pivot

This month’s pick of the pack shows the net number of central banks in rate cut mode (vs the global manufacturing PMI).

Interesting because of the extent of the global policy pivot, but also for its implications on the 2025 macro outlook (reacceleration anyone?)

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4.This chart made my favorites list of 2024 because it displayed a unique set of indicators, and more to the point helped identify upside in gold despite some mixed signals... $Gold - main 2502(GCmain)$

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