In Elliott wave terms, bond investors have transitioned from extreme optimism to extreme pessimism
[Ed Note: The text version of the story is below.]
What a rout in the bond market in November (Bloomberg, Dec. 1):
Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost
The price of U.S. Treasuries nosedived as 10-year yields – a.k.a., interest rates, which move inversely to bond prices -- saw their steepest climb since November 2009.
Bloomberg (Dec. 1) provides another perspective:
The 30-year-old bull market in bonds looks to be ending with a bang. The Bloomberg Barclays Global Aggregate Total Return Index lost 4 percent in November, the deepest slump since the gauge’s inception in 1990. Treasuries extended declines Dec. 1.
Elliott Wave International subscribers were prepared well ahead of time.
On June 17, well before the rout, The Elliott Wave Theorist showed this chart and said: