Adjusting Portfolio Weightings
This morning we reduced our weightings for long T-Bond positions and increased our weightings for long Dollar positions.
T-Bonds are 30 years into their Bull Market while the Dollar is only 8 months into its Bull Market.
Update at 12:00 noon CST
We are selling the remaining balance (about 66 percent of the original Long position) of our long T-bond at this moment, T-Bonds are at 146.13. I view Yellen’s comments today as subtly hawkish, as hawkish as you can be and still be Janet Yellen.