So it’s the weekend and on weekends I like to keep things simple for those who, very much unlike me, have more enjoyable things to do than sift through sellside notes, pen lengthy missives about the perilous state of markets and the lamentable demise of Western democracy, and whatever else it is that Heisenberg does on Saturdays…
On Friday night I showed you what I affectionately (and cleverly) called “A Whole Bunch Of ‘Bull’sh*t.” Essentially, I gave you a set of charts that demonstrate the extent to which equity markets have gone full-bull-complacent-retard as the “deer in headlights” dynamic keeps traders (and the Fed) in a state of suspended animation.
Well, as a fun followup, below find one table and one chart that prove, beyond a shadow of a doubt, that equities have reached a kind of listless nadir when it comes to performing their traditional role as a discounting mechanism.
Via Goldman
