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Nomura’s McElligott Says Market Is Waking Up To Likelihood Of ‘Guns Blazin” Fed Easing
When it comes to 'splainin last week's "front-end inversion spasm", Nomura's Charlie McElligott thinks you need to "use your imagination".
And by that, he means you should consider the possibility that when the Fed does ultimately embark on explicit easing (as distinct - sort of - from the implicit easing inherent in the end of runoff and MBS reinvestments into USTs), the committee will come out "guns blazing".
He sets the stage by using overnight consolidation as an excuse to recap recent "in
Think I agree ..lol..He sure goes out on a limb with the quantification though… Got to respect that for sure.Wow!!!
I think the entire article flew over my head.