Why Russell Clark Thinks It's Time To Short 30Y Treasuries  | ZeroHedge
By Russel Clark of the Capital Flows and Asset Markets, formerly CEO of Horseman Global, Shorting long dated bonds has been a great trade. But the view, and the positioning that I am seeing is suggesting that most investors think that trade is done. If anything, I would say long bonds has become a conviction trade for many investors. TLT US is a liquid ETF that buys long dated treasuries. Typically, the net shares outstanding (shares outstanding less short interest) in this fund follows share price performance. Not in 2022. In 2022 investors have been buying TLT all the way down. I find this enthusiasm hard to understand. US CPI is back at levels last seen in the 1970s, when the US 30-year treasury yielded north of 8%. The reason that people are getting bullish bonds I believe is that the yield curve has inverted. And every time that has happened, you have a recession, and you want to get out of equities and into bonds. Very oddly, Japanese long dated bond yields continue to trade poor
Below is an instruction that describes a task. Write a response that appropriately completes the request.

### Instruction: Why Russell Clark Thinks It's Time To Short 30Y Treasuries  | ZeroHedge

### Response: By Russel Clark of the Capital Flows and Asset Markets, formerly CEO of Horseman Global, Shorting long dated bonds has been a great trade. But the view, and the positioning that I am seeing is suggesting that most investors think that trade is done. If anything, I would say long bonds has become a conviction trade for many investors. TLT US is a liquid ETF that buys long dated treasuries. Typically, the net shares outstanding (shares outstanding less short interest) in this fund follows share price performance. Not in 2022. In 2022 investors have been buying TLT all the way down. I find this enthusiasm hard to understand. US CPI is back at levels last seen in the 1970s, when the US 30-year treasury yielded north of 8%. The reason that people are getting bullish bonds I believe is that the yield curve has inverted. And every time that has happened, you have a recession, and you want to get out of equities and into bonds. Very oddly, Japanese long dated bond yields continue to trade poor