Worlds Collide

"You have no idea of the magnitude of this thing. If she is allowed to infiltrate this world then George Costanza as you know him ceases to exist. You see, right now I have Relationship George. But there is also Independent George. That's the George you know, the George you grew up with... Movie George, Coffee Shop George, Liar George, Bawdy George.""I love that George.""Me too, and he's dying. If Relationship George walks through this door, he will kill Independent George. A George divided against itself cannot stand!"

The 5 year note had an inside up day on Monday after a linear down Employment Friday. As long time readers know, we like this pattern to signal continued deterioration in the space. Typically, the bounce lasts into Tuesday and weak sauce late Friday shorts are tested. This is some of the financial tinder that creates a "turnaround Tuesday," The price is contemplating such a move as we post.

The 10 year note (and bond), on the other hand, made a new low on Sunday night. This price action, we often attribute to the exhaustion of the downside move (again only after a linear employment day). Curve twisting and grandiose schemes related to lift off can be contributing to the "House of George divided." Here's a friendly reminder about FI during a hike cycle: It ALL goes down.

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