by Greg Guenthner
Daily Reckoning
Remember rising rates?
We don’t…
With rate hikes falling off metaphorical tables left and right and bond yields plummeting, the market is up to a few of its old tricks. Investors are grabbing gold and utility stocks with one hand and flushing banks down the tubes with the other.
These shenanigans mean only one thing: It’s time to get bulled up on homebuilder stocks.
“Homebuilders are another group that may be benefiting from lower bond yields (which translate into lower mortgage rates),” legendary technician John Murphy explains on his blog over at Stockcharts.com.