High time to quit bonds

Treasuries Drop Amid Debt Rating Concern; 10-Year Yield Is Back Above 3%

By Cordell Eddings and Daniel Kruger

Treasuries fell as Moody’s Investors Service said it expects to place the U.S. government’s Aaa rating under review for possible downgrade if there is no progress on increasing the statutory debt limit in coming weeks.
Most of the losses occurred earlier as 10-year note yields at almost the lowest level in 2011 discouraged demand before the Labor Department’s payrolls report tomorrow. Yields rose back above 3 percent after tumbling yesterday the most in more than two months as hiring and manufacturing growth slowed.
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Comment: This probably the last call to get out of US bonds before it is too late. For aggressive traders the chance comes up to go heavily short on bonds