Dec
10
Why Old Fogies Buy Treasury Notes, from Rocky Humbert
December 10, 2010 |
Let us not forget that the reason old fogies buy treasury notes is to receive a positive real return over their holding period, rather than engaging in some sort of fancy i'm-smarter-than-the-next-guy leveraged speculative antics.
Are these not-so-stupid antediluvians salivating to buy bonds after this shellacking– taking long positions off the hands of catch-the-falling-knife-regardless-of-value speculators?
The real yield on the 5 year TIP is now (drum roll please): 00.01%
As my mom used to say when she gave me my fifty cents allowance.
"Don't spend that basis point all at one time."
(P.S. My mom didn't know about moving average crossovers.)
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