TFMR Podcast – Thursday, November 7

The hope on Wednesday was that it was all just a one day overreaction to Trump’s win. A one off. A day. Well, so far so good as the bond market rallies back and the POSX falls. Let’s see if the reversal can continue into Friday so that we can finish the week on a UP tick.

For today, rates and POSX were already back down when the fedlines were released. Then, after a brief bounce in both, Jerry’s press conference comments led to new lows in each…which allowed for new intraday highs in CDG, CDS and GDX.

I recorded this podcast while Jerry was still speaking so we kind of…