A Three Year Graphical Journey along the $ZB_F Chart
The below chart is worth a 1000 words, and in this case trillions of dollars. Should we be betting on a ‘fiscal cliff’ driven rally in bond prices, driving rates to record low levels in the next 5 weeks? Perhaps pushing the 30 year bond into 160? Note the annotations prefixing each rally and break into new high price and low rate territory..