All hail the “king”.
Can you feel the tension?
Say your prayers.
“I don’t… nobody knows what’s going on.”
Tuesday was another day that had a distinctly circus-like character to it…
“That amounts to 156 months without a recession in the face of a guaranteed bond shock that will take the 10-year benchmark yield to 4.00% and beyond.”
In essence, the same things everyone was watching last week (e.g. tech, trade, Trump) will be in focus again…
It was only fitting that the quarter should close in dramatic fashion for U.S. equities.
“Enjoy those chocolates.”
“The single most important price in all of capitalism is the interest rate—-and at all points on the maturity curve. And the single most important truth about honest interest rates is that they must be discovered by markets, not imposed by the state.”
It should be fine. Really.
“This seemingly counterintuitive result has a distinct ‘path-dependent’ flavor.”
“In the last week of January, as equities went on yet another run, a client who had been waiting to buy the dip called us with an exasperated query.”