Citigroup's economic surprise index remains at a very high level (meaning the news has been...

|By:, SA News Editor

Citigroup's economic surprise index remains at a very high level (meaning the news has been mostly good over the past weeks). If history is any guide, the news is about to turn worse as this read is as mean-reverting as they come. Maybe of most interest is the refusal of the 10-year Treasury to play along - past correlations imply today's yield should be around 5%!