Negative Rates

Three month notes traded at a negative rate today as money continues to pour into Treasuries and away from just about everything else. Should those rates submerge more this week, it is likely to bring a serious attack on the legs of the current index support levels. Though there are compelling reasons to nimble on stocks with healthy cash positions relative to all obligations, that may be the basic necessity for any investments now that credit has all but been eliminated as a market driver. Generational ideas about low PE ratios now have their chance to prove they are valid entry indicators.