[video] Quick Take: Bonds Prepare for Hard Landing
NEW YORK (TheStreet) -- Stocks are taking a break and declining on Tuesday, albeit, slightly. According to TheStreet's Debra Borchardt, investors might be feeling slightly anxious over a possible tapering decision from the Federal Reserve this month.
While it may seem unlikely, the positive economic data isn't helping those who think the tapering may be on its way.
As a result, Treasury bonds have been in decline, and there have been some very notable sellers.
She pointed out that Citigroup
(C) sold 10% of its Treasury holdings, which are now down to $82.6 billion.
The cut at Bank of America (BAC) was even more dramatic. Borchardt said the bank sold 88% of its Treasury bond positions, now down to a paltry $2.97 billion.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts