$1,000 follows their calls into $1,005
- Win rate
- 45%
- Streak
- 4closes
- Best call
- No call read in the last 30 days
Track record building
- Peak #111
- 7 ranked closes
- Longest streak 4
$1,000 follows their calls into $1,005
Ben Kizemchuk@BenKizemchukOne of the more interesting developments lately is BKLN/TLT. Structurally, BKLN/TLT essentially measures whether the market prefers earning income from the current flow of money and credit creation, or from owning claims on future government payments. Rising BKLN/TLT implies

Ben Kizemchuk@BenKizemchukMore like multistrats needed to buy SALP (and others) to put a (temp) floor under their dispersion books as semis unwind takes market structure down with it.
Ben Kizemchuk@BenKizemchukBKLN/TLT and the 2026 Policy Mistake Conceptually, BKLN/TLT measures the market's preference for current income and credit creation versus future income and duration. When the ratio rises, investors are saying they'd rather own a floating-rate loan generating cash flow today

Ben Kizemchuk@BenKizemchukThe leaders led us down. The leaders are leading us back up. Under passive dominance, megacaps are effectively a realtime gauge of net equity flows. Cap-weighted vehicles continuously concentrate marginal dollars into the largest constituents, creating a feedback loop where

Ben Kizemchuk@BenKizemchukTLT duration really having a moment here. Feels like max bearish sentiment with divergence on daily, huge divergence on quarterly chart. Software duration already moving up strongly might be enough to catalyze a general bid to duration via factor exposures
