Macro Tourist Delivers A 1987 Flashback

Read more from The Macro Tourist  Here's a flashback to 1987 and some wise words from Bruce Kovner. This morning we have some real panicky moves in bonds. This sort of increase in volatility with ugly flattening is ominous, and I continue to be concerned about risk assets. If we get a really bad risk-off move, I know the initial knee jerk reaction will be to buy US dollars. I get it. I understand the rationale. However, I want to remind you of Bruce Kovner's Market Wizards recount of the 19