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Michael Kao: TLT shows signs of capitulation bottom as short-term calls bought

Michael Kao: TLT shows signs of capitulation bottom as short-term calls bought
TLT seen at capitulation bottom point

Michael Kao, CIO at Akadia Capital, observed what he describes as a capitulation bottom in TLT on 10/1/26. He disclosed having purchased short-term call options, expressing his view that the current market move seems massively overdone. Kao added that, in his opinion, investor Bessent may soon initiate a significant intervention.

Kao previously analyzed surprising jobs data and a surge in yields, pointing to trends in bond normalization and AI's impact on debt markets in earlier commentary. He also noted that while certain sectors have reacted to rate anxiety, long duration equities have remained resilient, according to his sector analysis. These observations follow his latest remarks on the potential bottom in TLT.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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