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Dislocations, Dysfunction And Diversification Desperation
“In a crisis you’re going to sell what you have, not what you want to", TD's Priya Misra said Wednesday. "This is not a normal functioning market".
No, no it's not. She was referring to the apparent selling of bonds in the absence of anything else liquid to sell.
Obviously, Treasurys have been bid to infinity lately as the safe-haven appeal and expectations of lower rates reignited 2019's "duration infatuation", which hit something akin to peak insanity late last week and especially on Mo
