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Here’s an unusual recent development.

From July 3 to September 19, the stock and bond markets moved in opposite directions 80% of the time (I’m using the SPX & TLT).

But in the six trading days since, they’ve moved in different directions just once.

Obviously, it’s too early to read any major significance into this, but it’s something worth watching. There’s also the question of what the consequences are.

If the stock and bond markets are indeed, converging, I’m inclined to think it’s a healthy sign for both markets.

Posted by edelfenbein at September 28, 2007 10:29 AM