At last we are seeing a pullback in bonds. The stock market continues to have insane intraday volatility with the Trump trade exponent hanging high. I like bonds right now for this purpose. The pull back constituted nothing more than a small mean reversion in an extended market. Im looking for ZB to get between the 10 and 20 period moving averages. At this point I would feel comfortable taking a position. I will gain exposure through TLT options. The highest risk I see here is a deal being made with china. If that is the case I would imagine stocks will rally hard. Money flows out of bonds into stocks. As long as there is uncertainty about this trade deal I think bonds will be solid, at least until interest rates cannot take anymore of a drop.