Jim Cramer called for a bond short squeeze, and he got every single condition he asked for: consumer confidence at its lowest since 2014, oil down 5%, inflation soft. Three reasons to rally in three sessions, and yet the 10 year hit a 24 year high and TLT just printed a record low. Mike Butler runs the math on whether the setup is actually there, a quarter of TLT's float is short, about 135 million shares, which is a lot of people who would have to buy to cover if it ever turns.
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Chapters
00:00 Cramer called a bond short squeeze
00:21 A historically bad quarter for bonds
00:36 A quarter of TLT is short
00:49 But a squeeze needs a buyer
01:06 Japan and China are selling
01:30 The SOFR contract
02:01 TLT's catastrophic selloff
02:29 IV rank near 100...