Bonds!

TLT is an ETF which duplicates the 20-year Treasury bond.  It is up an unprecedented 2.2% today to $99.  We have seldom seen such moves and it becomes unsettling as investors continue to flee to safety.

Oh, S&P 840 was supposed to be a floor and it went through it like butter.  With the auto discussions going poorly I don’t want to be long equities.