Why I Sold the Long End

From The Aleph Blog
January 8, 2013 - 12:45am

My bond strategy has always had a position in TLT until last week.  TLT, composed of long Treasuries. is a hedge against deflation, and has made money for my clients. I changed last week because of significant disagreements at the Fed regarding the duration of QE, and also the selloff in the long end breaking [...]

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