Daily financial and political snark
The long version.
“This would be perhaps the biggest surprise to markets.”
With financial repression alive and well, “it really isn’t different this time”.
We’re not all the way down the road to 100% administered markets, but the crisis has accelerated our journey.
You can’t go wrong with “negative rates are coming to America”.
“Cash crunch issuance realities.”
“Full faith and credit of the United States’ debt obligation is sacrosanct”.
Don’t forget the lessons from March.
Signs of stress are abating. For now, anyway.
“Liquidity will flow into whatever momentum trade emerges as the winner.”
“The truth is simple.”
You knew the risks, right?
Better to remain silent and be thought a fool than to speak and to remove all doubt.
Welcome to the future. How do you feel?
“…market monitoring should look beyond current conditions and ask the ‘what if’ questions.”