Just now, I sold my TLT position. My thesis has been that government bonds will still be a good hold because 1) overall economic growth will be slow ans 2) they offer the only true hedge for a stock portfolio.
While I still believe in the overall thesis, I have stronger conviction that stocks will be rising over the next few weeks and in that environment, bonds will struggle. I would look to buy again if we trade a bit lower. Today's rally in TLT gives me a chance to get out at a reasonable level.
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