-- Paulo Coelho In the fixed income space, the most hated area of the bond market has been long-duration Treasuries (NYSEARCA:TLT). I suspect much of this has been a repricing of the inflation story, which was so hyped over the past decade, with the metal serving as a "hedge" against inflationary concerns that never materialized. The ratio against equities seems to be turning up, in sympathy with the fat pitch and long duration bonds as investors try to play massively oversold trades.