Instability in Hong Kong and Argentina is scaring even more capital into haven assets. On Monday stocks declined; while Gold and US Treasury bonds rose. The latter is on the cusp of surging to new all-time highs.
Last I checked, the 10-year Treasury bond yield now flashed a remarkably low level of just 1.6%. The same yield, just ten months earlier, fetched 3.2%. In other words, long-maturity US bond yields have basically halved.
Looking at the Treasury Bond ETF (TLT), the bull run from 120 is continuing strongly. For several times during March-April this year, I have written about buying these bonds just in case the stock market rally paused ...