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‘This Is Wild’: Canadian Rates Go Nuts On BoC Blindside
The Bank of Canada on Wednesday became the latest central bank to suggest (tacitly) that tighter mon
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The statement about BOC challenging the status quo was one that caught my attention for sure… Thought of putting on some VIX and figured I had a few days to spare,,, kind of like that Deer in the headlights… I’ll be quicker next time..!!
I dunno. When it comes to inflation, I think a lot of people are getting out over their skis, and today’s market action would seem to confirm. Per McElligott, a lot of portfolio managers woke up this morning and realized that short bonds was the most crowded trade on the planet, looked at short-term “peak” revenue numbers from Mr. Softie, FB, and others, and decided to sell some of their winners and use the proceeds to hedge the risk of the “unthinkable”: that inflation is transitory and yields on the 10yr aren’t going much higher than the 1.63 we saw last week.