
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.