Gartman ‘Aggressively Bearish’ on Bonds

The action in U.S. Treasury bonds has made a bear out of Dennis Gartman, the editor of The Gartman Letter said Thursday.

"I think that we're actually seeing a very important turn in the long end of the curve," he said on CNBC's "Fast Money," adding that he was now "aggressively bearish."

Gartman noted that bond futures had made a high 14 months ago in the autumn of 2011.

"I think we're now seeing the end of that bull market," he said. "So, I'm short the long bond, I'm long the 10-year note. I'm short the knob spread, as we call it, and I think I'm going to be that way for a long period of time."

Gartman said that the fact that bonds broke on what should've been positive news from Federal Reserve Chairman Ben Bernanke was the "kiss of death."

(Read More: 'Ridiculously Bearish for Miners': Dennis Gartman)

"The ancillary effect is a widening yield curve is always good for the banking industry," he said. "As I like to say, a positively yield curve makes geniuses out of otherwise bank idiots. Nothing better than being able to borrow short and lend long. In the long run, that's a very good thing for the banks."

But Gartman also warned against it being a bull signal for banks.

(Read More: Dennis Gartman Says Bear Market in Bonds Has Begun)

"I don't think one goes out and buys banking shares at this point after a sustained bull market that we've had in equities just because the long end of the curve is starting to show higher yields and the middle of the curve is starting to show some strength relative to the long end," he said. "But if you're a bank, if you're a bank manager you welcome a positively sloped, or a more positively sloped curve, and I think that's what you're going to get."

Trader disclosure: On May 23, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Dan Nathan is long VIX JUN 16/20 CALL SPREAD; Dan Nathan is long IBM JUN 205/295/285 PUT FLY; Dan Nathan is long TSLA JUN/SEPT 100 CALL SPREAD; Dan Nathan is long CAT JUN 85/80 PUT SPREAD; Tim Seymour is long AAPL; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long MSFT; Tim Seymour is long FIATY; Tim Seymour is long WLT; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MJNA; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long QCOM; Steve Grasso is long S; Steve Grasso is funds long HA; Steve Grasso is funds long NEM; Steve Grasso is funds long OXY; Steve Grasso is funds long SPY; Steve Grasso is funds long HPQ; Steve Grasso is funds long MU; Steve Grasso is funds long ZNGA; Steve Grasso is funds long TLT; Josh Brown is long VAW; Josh Brown is long F.