$TLT / $TMF is a long soon, especially if betting on further economic weakness or simply bonds becoming more attractive as the administration tackles the deficit and debt issue.
The chart below (note it ends at 2023 and the divergence has only grown) shows that bonds are the most disconnected and diverged from stocks like ever.
That came from the inflation and then the FED hiking rates at the fastest pace ever + the growing national debt and deficit.
So many investors and traders are losing faith in our US treasuries. The contrarian take now would be lond bonds since now that everyone thinks US bonds are risky, broken, suck and pointless to even invest in.
All it takes is a catalyst to send the pendulum back in the other direction and narrow the divergence between equities and bonds.