THE MARKETS

If the end of the world happens, I want to have long-(dated) Treasuries, canned green peas, and small firearms." Those are the words of economist and former PIMCO guy Paul McCulley on Consuelo Mack Wealthtrack, which we took notes on here. The reason Treasury yields have gone up a little lately is that people see the end of the world being less likely than they did fairly recently, when the Eurozone crisis threatened to torpedo the global economy. What's funny is that the canned green pease/firearms thing is pretty common among doomers. The wildcard is Treasuries: Usually you hear people say that gold is the third thing they'd have in that armageddon portfolio. Over all, a big theme of the interview is that he (and Bill Miller, who he was also being interview with) is really not a fan of Treasuries, and that a short-10-year/long-S&P trade is something he'd be inclined to do.