This business involves a lot of waiting. I mean more than one could ever imagine. For many, waiting is not an easy thing to do. If you trade for a living, waiting means making no money. If you invest your own money, waiting means watching moves go on without you. Waiting is not fun. In fact waiting can be downright exhausting.
And I can imagine my continual call to wait and be patient is growing old as well. I can understand anyone’s desire to take a directional bet and jump all in. I’ll use myself as an example of what I mean.
Personally, I remain in a delta neutral position on Treasury yield, though based on current pricing the position is net short of yield. And it is anything but a crowded trade. In fact, I suspect based on
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