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Chart In Focus

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June 13, 2018

Treasury-Bund Spread Just Gave Stocks New Life

Since the early 1990s, there has been a pretty good correlation between the movements of the DJIA and the spread between the 10-year U.S. Treasury yield and the equivalent yield for German sovereign debt.  The German bonds are commonly referred to as “bunds”, shorthand for the German word “bundes”, meaning federal.  This Treasury-Bund spread also has the interesting property of giving us an early warning of major secular tops in the U.S. stock market.  When it rises up to a very high level, and then makes a divergent top relative to the DJIA, that is a warning sign that trouble is… more

 

Past Charts in Focus

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May 31, 2018

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May 24, 2018

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May 18, 2018

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May 11, 2018

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May 03, 2018

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Apr 26, 2018

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Apr 20, 2018

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Apr 13, 2018

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Apr 05, 2018

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Mar 30, 2018

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Mar 22, 2018

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Mar 14, 2018

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Mar 08, 2018

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Mar 02, 2018

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Feb 23, 2018

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Feb 15, 2018

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Feb 09, 2018

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Feb 03, 2018

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Jan 25, 2018

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Jan 18, 2018

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Jan 11, 2018

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Jan 04, 2018

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Dec 29, 2017

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Dec 20, 2017

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Dec 15, 2017

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Dec 01, 2017

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Nov 24, 2017

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Nov 15, 2017

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Nov 10, 2017

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Nov 02, 2017

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Oct 27, 2017

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Oct 20, 2017

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Oct 13, 2017

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Oct 05, 2017

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Sep 28, 2017

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Sep 20, 2017

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Sep 13, 2017

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Sep 07, 2017

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Aug 31, 2017

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Aug 11, 2017

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Aug 03, 2017

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Jul 27, 2017

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Jul 14, 2017

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Jul 07, 2017

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Jun 30, 2017

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Jun 23, 2017

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Jun 15, 2017

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Even More Past Charts