The Market Got It Wrong In 2008. Are We Making The Opposite Mistake In 2020?

[Editor’s note: As many readers are likely aware, fan-favorite Kevin Muir — formerly head of equity derivatives at RBC Dominion and better known for his exploits as “The Macro Tourist” —  recently transitioned his daily letter to a subscriber-only format. On Friday, I asked permission to republish his latest, which he granted on a one-off basis. The following is available exclusively to his subscribers and mine.] I would like you to remember back to 2008 when Ben Bernanke cut rat
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