NEW CHART (@ 2021-03-21 02:02:28)
This chart is, at the moment, one of the most important charts in all of financial markets. It shows that the correlation between US Treasury bonds and the S&P500 has gone positive. This is the biggest fear of all risk parity strategies, as now both stocks and bonds are co-moving and diversification is hard to get by. Expect more of this in years ahead. Our thinking is that Bitcoin is the new US Treasury. -LSS Investment Team
