Greece fears sent stocks sharply lower and bonds sharply higher. Quite a snap back rally in fixed income today, just one day after hitting new 2015 lows to close out last week.
We partially exited our long positions in the TBF in today’s early going while maintaining our existing equity hedge positions in DXD, SDS, QID and TWM. A bounce may be coming soon but we believe the action during the end of June is pivotal in the near term.
More on the Treasury rally here: http://www.marketwatch.com/story/treasury-yields-tumble-as-greece-sparks-flight-to-quality-2015-06-29