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PG_HienTrader
Oil has crashed, but the 10-year yield has barely moved $CL $BZ
Jim Bianco of Bianco Research points to a sharp divergence:
1. Brent crude has fallen 22% in a little over two weeks, from $116.72 on October 23 to $90.56 today.
2. Over the same period, the US 10-year Treasury yield fell only 10 basis points, from 4.99% to 4.89%.
His conclusion: the bond market is not trading on crude prices.
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