Yesterday on CNBC (11/16/2010) former hedge fund manager, Michael Steinhardt, discussed QE2, inflation, GDP, municipalities and the overall run in commodities, stocks and bonds. He is currently short the 2-year Treasury Note and believes debt markets are overvalued.
In the second video, David Faber and Gary Kaminsky asked Steinhardt what he'd do if his firm was allocated GM shares in the IPO. He said, "(I'd sell out) as quickly as I can. Well, I don't think one should be a long term holder in Government securities, particularly Government equity securities". Ouch.
*Larry McDonald talked about GM convertible bonds in the second video
2-Year US Treasury Note Price, $USTU (courtesy of stockcharts.com)