Early this morning, Bloomberg’s Andrew Cinko “flipped on [his] computer and was hit with a barrage of price alerts telling [him] some security was setting a record.”
Cinko was referring to the Bloomberg U.S. Financial Conditions Plus Index.
As Andrew notes, “the ‘plus’ includes markets that might suggest there are bubbles — including tech stocks and bond yields.”
Well guess what?
It’s now at the highest level ever – higher than the heady dot-com years and higher than that time when strippers were using one dollar bills to pay the mortgages on the five homes they owned. Have a look:
There are a long list of caveats, but where’s the fun in that, right?
All you really need to know is that clearly, nothing can go wrong, which is why the best thing to do is Google “melt-up“…
… read a story (or four) about dip buying…
… and hope there’s not a one-eyed doctor with Asperger’s out there buying up swaps on something you don’t understand.