Uncharted Territory

Today’s facts:

1. In the last 3 months, yields have risen faster than 97% of all 3-month rolling periods since 1950.

2. More than 95% of all stocks over their lifetimes as public companies collectively don’t even outperform the 3-month T-Bill, and more then 50% deliver negative returns.

3. Since mid-March, 70 China cities accounting for 40% of country’s economic output, have implemented restrictive Covid-control measures including confining residents to their homes. Shanghai, with all of its manufacturing companies that export to the U.S., is at the epicenter.

4. The 20+ year Treasury ETF is 2nd from bottom of all the global markets on WSJ weekly performance list. It is – 5.48% for the week, with only the DJ Transportation Average is lower at -6.71%.

THAT’S ALL FOLKS!