Wednesday, April 25, 2012

Bespoke survey: bearish on treasury bonds

Someone on the Vanguard forum posted a chart (link1) about an investment survey. Here is the thread (link2).

The only number that stands out is the percentage that are bearish on U.S. Treasuries. It is interesting that they are not near as bearish on U.S. corporate bonds or municipal bonds. The rest of the numbers aren't extreme enough to give a signal.

I looked up Bespoke Investment Group, didn't find all that much background, founded in 2007 by Paul Hickey and Justin Walters. Their pitch is custom "tailoring" of portfolios.

Bullish treasury plays would include buying TLT (20-year Treasury bond ETF) or EDV (zero coupon U.S. Treasury ETF).

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