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Jerome Powell Can’t Find Duration Bubble He Saw Eight Years Ago
As regular readers are aware, I'm generally loath to devote too much energy to lampooning or otherwi
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“The Fed and its global counterparts have inflated an egregious fixed income bubble by driving investors further and further out the risk curve and down the quality ladder in search of any semblance of yield.”
Good thing Social Security will be there to help those who get slapped down. Oh…wait….well at least they won’t get means tested out of their reduced benefits.
Getting a reverse mortgage five years ago turned out to not be such a bad idea. In five years our credit line has grown almost to the point that we don’t have to go through the hassles of readying our home for sale, selling it, and paying commissions and paper pushers. It is more lucrative to simply take the accumulated credit line in one fell swoop and walk away.
And a balloon isn’t a balloon until someone sticks a pin in it.
It can’t be a bubble as it hasn’t burst. It’s like we’re living in a world where the concept ‘yet’ hasn’t been invented (yet).
Anybody have Jay Powell’s email address? Somebody please send him this entire HR post…
Thanks H……It took a while but you finally got to the gist of all this…. What to do about this mess…!!!! ? I think the smarter people tend to take care of their best interests and the rest , well they do what they always do… That’s what Government is for… reluctantly though !! I can’t see many jokes in this however…
Shifting gears, we need some H eyes on the perpetually anticipated rotation. Even when markets were up big early today, tech was relatively wheezing and it stayed that way all day and on into futures tonight. The “most crowded trade ever” looked like it was slightly more crowded under the Exit sign…