Reflation??? Hmmm.... Looks like the crowded bond short consensus/reflation trade is about to get smacked... Positions in stock and options between $TLH and $TLT. Extreme positioning usually does not end well for the herd.
I wonder if people shorting when market rate for 10-Years was above 2.31% ever even knew that rates have been under pressure since peaking over 3 decades ago.... Nevertheless rates can end the constant multi-decade state of decline, but my bias still remains to rates breaking the 2.31% support.
TLH: Long Positioning
TLT: Neutral Positioning
