Spoiled And Spurned
US and global equities came into Friday poised for a fifth consecutive weekly gain.
For some, that's all that matters. But in rates, spoiled markets are feeling spurned -- a jilted lover loudly airing grievances.
Complaints centered around the Bank of England. It's true markets were woefully wrong-footed. The BoE had ample opportunity to walk back rate hike bets and they didn't. When Andrew Bailey told a virtual panel the bank "will have to act" late last month, traders understandably interpre
Deliciously ironic that the Fed under Jay Powell turns out to be the CB with the clearest, most effective communications.
Reminds me of someone I used to eat dinner with. I would say something like, “do you want sushi or pasta tonight?”
If I wanted sushi, I would tell him I really wanted pasta.