Why Guggenheim Believes The 10 Year Treasury Will Drop Below 1%
Yesterday we explained why according to Bank of America, despite the big equity squeeze Treasurys refuse to move lower, and in fact have continued to drift higher in price. We also noted that according to a Reuters blurb, Guggenheim CIO Scott Minerd said on Monday that he sees the 10-year Treasury note yield falling to 1 percent, perhaps even lower, before year-end.
Below are key excerpts from his just released argument for why the best trade of the year will be to buy 10Years in May, or any other month for that matter, and go away until December 31.