A weak Treasury auction was blamed for spooking the stock market yesterday afternoon. However, the weekly T-Bond chart suggests that, if anything, Bond futures should be bought on pullbacks. While the blathering class continues to debate the question of when Yellen is going to raise interest rates, our firm prediction is: never. While it’s possible to spin a recovery story with cooked statistics, hoax alone cannot suffice to lift an economy from the mire of The Great Recession, nor can it negate the need to keep the U.S. economy on life support.
