Why Risk Assets Are Immune To Crazy Politics
Whistling past the graveyard since 2009.
Whistling past the graveyard since 2009.
“Once exposure starts to increase, it tends to continue until”…
Markets are ostensibly free to focus on the “fundamentals” again.Â
“The Phillips curve now is fully ‘alive’, only to be half-ignored”.
“Canaries”, “coal mines” and such.Â
“…the end of the cycle is more likely than a third temporary loss of momentum”.
The same worry, but now it’s more acute.
That wouldn’t necessarily be hyperbole.
All told, there’s not much to like this week.
“…this does not necessarily lead to a healthy and sustainable economy”.
None of this sets a particularly upbeat tone.
Don’t call it a “return”.
“Rocket ships” and such.
There is no sense in which any of this can be taken seriously anymore.
Is good news “bad” news this time?
The “melt-up” chatter is getting louder.Â
“They could create an ever-escalating trade war”.
“…any deal, if any, will likely be weaker than the 150-page ‘grand deal’”.
Enjoy any truce while it lasts.
What a “shame”.
“You gotta, stand back from it, you know.”
“The economy at the moment is in a superposition of two states.”
This could double as a job application in case Trump is hiring for Fed chair.
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