Stocks and Treasuries Haven't Moved Together Like This Since China's Yuan Devaluation
The five-day correlation between stocks and long bonds has become strongly positive.
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It's almost as if cats and dogs are living together.
The five-day correlation between the daily change in the iShares 20+ year Treasury Bond ETF (known as TLT) and the S&P 500 Index rose to its strongest level in over a year on Tuesday.