Today’s Chart of the Day was shared by Arun Chopra (@FusionptCapital). The chart shows the S&P 500 (top) and the 20+ Year Treasury Bond ETF, $TLT. Bonds continue to be under pressure, with $TLT closing at a fresh decade low today. It's in its worst drawdown since inception (-45%), and it's fallen for nine consecutive weeks for the first time ever. On the other hand, the S&P 500 has firmed up recently, closing at a one-month high today. Stocks and Bonds have been trending lower together all year. Given this recent correlation, it seems unlikely this divergence can continue much longer. As Arun asks... which one is lying?
Chart of the Day - Monday, October 24th, 2022
October 24, 2022
