“Our Animal Spirits Have Been Shot By Poachers”

Ok, finally. Leave it Bloomberg's Richard Breslow to sum up a few of the points I've been keen on driving home since the Fed Minutes hit on Wednesday afternoon. As noted on Thursday evening, the Minutes effectively short-circuited the whole hawkish mindset the had become firmly entrenched since Janet Yellen's testimony on Capitol Hill. Treasury Secretary Mnuchin's comments on fiscal stimulus timing only served to further undermine the reflation narrative. Earlier this week, I noted that Bresl