‘We Have Not Been Bullish Enough’: Misery, Redux
Back on May 23, Bank of America slashed their year-end yield targets for DM bonds across the board.
"Following the latest tariff developments, our year ahead numbers imply a best case scenario for a resolution of the US-China trade dispute, which seems unrealistic", the bank lamented, in a fatalistic-sounding note called "Marking to misery".
At the time, their forecasts for DM yields seemed bullish.
Read more: Misery.
Now, in the wake of a truly epic bond rally, those same targets look outri
It is the extent of the bond rally not the fact it occurred or even the timing…Hindsight is 20-20 on this one…for me at least..
Gary Schilling and a pm that runs ust in texas are two that come to mind, although I cannot recall the latter person’s name. Both have forecasted these rates.
I remember, hoisington…..
Lacy hunt as well….
i’m mad at Lacy.
https://heisenbergreport.com/2019/04/28/from-lacy-hunts-mmt-interview-nearly-100-of-our-people-would-be-miserable-absolutely-miserable/
What happens if Powell and trump have a joint press conference with a few people from congress, sending a message that they have all made mistakes this year and they have all decided to work as a coordinated team to work on stability, then Fed cuts a full 1% and trump .. what could trump possibly do to make America great, except resign.