The Dollar Shortage Thesis Lingered, Like Stale Cigarette Smoke.

The Dollar Shortage Thesis Lingered, Like Stale Cigarette Smoke.

And so, risk sold off, safe havens were bid and the farmers (not to mention the cobblers) were restless. That was the mood on Thursday morning, as China cranked the hyperbole knob to a Spinal Tap-ish "11", PMIs out of Japan, Germany and the US rattled investors and an overriding sense of angst was a wet blanket over global equities. 10-year yields in the US dipped to their lowest since 2017. Bonds are "marking to misery", to quote BofA. But while there's "misery", there's no "mystery". "UST f
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