The Relationship Between the SPY and the Long Bonds

The spy is definitely outperforming the long bonds and TLT's got killed today, although they're back down in the bottom of their range. Junk bonds have certainly done better than long bonds because high yield, high debt means people want risk. Gold took a tumble today where SPY went up. So that relationship is showing risk on. Until that really starts to show stress, I say, game on.