Hard Landing, Loose Nukes

Hard landing odds are going up again. That was the narrative early Monday. It's hard to keep track of the ebb and flow, I know. Mostly because we're just making it up as we go along, hour by hour. We take a look at the price action, then we write the narrative accordingly. If stocks are lower with yields, it must mean hard landing odds have increased. In this week's first trading, European shares were down again. Not by much, but the mere prospect of a sixth consecutive losing session made for