Underperforming Cash, ‘Splattered’ Vol
Fed hikes made cash great again. (Please don't send me any novelty red hats.)
From a fund flows perspective, cash is the story of 2023.
Globally, money market fund inflows now exceed $1 trillion, eclipsing 2020's full-year haul, no small feat.
On ICI's data, US money funds took in $890 billion for the year through last Wednesday.
To be sure, there's a lot to be said for being able to sleep well at night. I speak from experience. From 2008 to 2016, most of my nights were more or less sleepl
Yeah, but trades like that have a habit of working until they don’t, “don’t” usually represents an explosive mean reversion that wipes out the bag holders.