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JPMorgan Warns Risks Shifting Towards Even Higher Rate Peaks
"Chaotic."
That's how JPMorgan analysts led by Marko Kolanovic described last week's price action,
My periodic check-in from NYC: rents are through the roof, grocery prices are at nose-bleed levels, airfares and rental care rates are ridiculous. Higher for longer.
It’s all good until we get a credit event. Until we get one, the Fed will continue to keep rates up. After, we will see a very rapid unwind. The inverted us treasury curve is the necessary condition for a recession and market crack. The credit event will be the sufficient condition. Credit is in fine now. That will change.
I hereby caption the article topper, “The Legendary Farting Pigeon of Wall Street.”