Treasuries Make a Comeback

| About: SPDR Portfolio (SPTL)
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So much attention was focused on the drop in Treasuries earlier this week, yet no one is even mentioning that they came all the way back to where they started the week. Below is an intraday price chart of the long bond future over the last 15 trading days. The part highlighted in red represents the action this week. As shown, the long bond did suffer a big decline in the first part of the week, but it saw a huge reversal yesterday and today. As Treasuries fell hard, investors bought up gold and other commodities, and sold the dollar. It will be interesting to see how these asset classes act next week now that Treasuries have bounced back.