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Upside Target Met In UK Long Gilts

Posted on: Tuesday, June 21st, 2016

The UK Long Gilt, Britain’s equivalent to the US 10-Year Treasury Note which has a long, tight and stable positive statistical correlation to it, met our January 125.50 upside target on June 14th to capture a 4.1% gain in about 5 months.  This target was most recently mentioned in our May 9th Keys To This Week report (access requires subscription).

UK Long Gilt daily since May 2014

UK Long Gilt daily since May 2014

The also-positively-correlated iShares 20+ Year Treasury Bond ETF (TLT) coincidentally gained $11.81 or 9.4% during the same period while the yield of the benchmark 10-Year Treasury Note declined by 46 basis points to as low as 1.57% on June 16th.

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