Spooz And Blues: The ‘Final Hurrah’ Of Wall Street Over Main Street?

[Editor’s note: The following is an excerpt from a recent, longer piece by Kevin Muir, formerly head of equity derivatives at RBC Dominion and better known for his exploits as “The Macro Tourist." His daily letter is now subscriber-only. The following is reprinted here with permission and is available exclusively to his subscribers and mine. Those interested in trading ideas from Kevin related to the piece below can check out the new MacroTourist here.] I'm a big fan of Jefferies’ marke

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4 thoughts on “Spooz And Blues: The ‘Final Hurrah’ Of Wall Street Over Main Street?

  1. This article is another way of saying a 60/40 portfolio has hit its expiration. There is plenty of talk out there from strategists about this, Muir is one of them but certainly is not alone. Personally I am shopping for alternative allocations for clients for this reason amongst others. Stay tuned.

  2. Democrats are going to be good for Main Street? The same way Obama was? I mean, this is not AOC and Sanders taking control of the US…

    Furthermore, while capital may lose on a relative basis (hope, hope), if Keynesian-inspired policies do (still?) work, if the pie grows thanks to inequality reduction, it’s not clear it’ll be a bad environment for equity. Extra consumption should translate in rising Revenue, for one. Bonds ought to suffer, yes, if inflation settles higher. And over leveraged companies may also have a tough time if IR rise… I mean, it’s not for nothing that equities are a traditional inflation hedge…

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