SMP99

HYG TLT Breakdown being back tested

HYG/TLT  
HYG/TLT  
The break down in the long term trend line of HYG/TLT that occurred in December is currently being back tested. If the breakdown holds, this will mean Treasuries are set to outperform HY. Reversing the under-performance of treasuries to High Yield that started in February. A quick move to $88 from current $90.35 on HYG would not be surprising.

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