WALL STREET MECHANICS BRING IN STOCK BUYERS AFTER SELL-OFF ON POOR TREASURY AUCTION
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Wall Street Mechanics Kicking In
Please click here for a chart of 20+ Year Treasury Bond ETF (TLT).
Note the following:
- The chart shows that TLT fell yesterday.
- As we shared with you in the Afternoon Capsule, the reason for the fall in TLT was the poor Treasury auction. For details, see yesterday’s Afternoon Capsule.
- Initially stocks fell on the poor Treasury auction, but the momo crowd bought the dip. Then came Powell’s statement that he was willing to raise rates if needed.
November 10, 2023