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The ‘New World Order’ Looks A Lot Like The Old World
Headlines continued to paint a somewhat grim macro picture Tuesday.
2020 now seems like an epoch -- the beginning of humanity's reversion to the mean. Disease and war have always plagued our species. Price stability was never a given. The gold standard "worked," with the scare quotes standing in for myriad caveats and footnotes, not least of which is the lunacy inherent in handcuffing economic development and progress to a literal rock.
While perusing a lament for the demise of gold-backed cur
The tug of war between bonds and equity is reflective of macro confusion.
A recent clue from Bloomberg quint?
“He’s betting QQQ prices will cool in the second quarter as stubborn inflationary pressures undercut corporate earnings.
“History tells us that when there is a divergence that develops, it’s the bond market that usually gets it right, and the stock market that doesn’t,” he said.
In Wednesday trading, QQQ closed with a 1.1% drop while TLT rose 0.8%.
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