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6 Bullet Points Explain Why You Should Be Wary On Wednesday
On Monday in "These Charts Do Not Scream 'Ready For A Super Aggressive Fed'", we warned that a fairly rapid repricing higher of yields is being met with price action that suggests markets aren't prepared to digest an overly hawkish message.
Commodities are in free fall, HY spreads are widening, IG is selling off now too, and the stock-bond return correlation is becoming less negative, triggering an unwind in risk parity.
(Goldman)
The takeaway: while a March hike might be seen as confirmato
