Treasury Bond Bears Capitulate in Five Words

Markets temporarily reversed following a message on X by Bill Ackman. The five word message, "We covered our bond short." With yields testing 5%, it;s a natural position to cover, but it's the implications that are both bullish for bonds and largely bearish for the market. (OXY, NEE, WPM, GDX, FXI, MARA, TLT).