Bond Blowup Continues As Stars Align For Nuclear Selloff
“The underlying message is that the US economy isn’t just in fine fettle, it’s on fire.”
“The underlying message is that the US economy isn’t just in fine fettle, it’s on fire.”
Tea leaves, optimal control problems, and inner and outer limits…
And now, the main event.
Back to the “melt-up”.
“The changes, the inflections that are made happen unemotionally and happen with significant leverage behind them.”
“What do prior cycles show us about market anticipation of the ‘flip’ to ‘steepening’ after the Fed’s last cut?”
This is the story and folks are sticking to it.
And see, that’s where the problem comes in.
There’s some wage inflation.
“…this data point contradicts a lot of other evidence that lurks just behind President Trump’s veil of fiscal profligacy that a notable slowdown is already underway.”
All year long, analysts have fretted about the possibility that regulatory worries could end up being big-cap tech’s Waterloo.
So what about the September Momentum rally and the idea that hedge funds will keep “grabbing” for exposure?
“In FX too, the ‘winner’ is the currency that doesn’t lose.”
Long live the king?
Hint: not retail investors.
A full docket.
The pain was widespread.
“Fundamentals mean very little at this stage”.
It’s not over.
“It’s a market condition.”
Expect a reprieve, but beware 2019.
U.S. politics and trade are likely to dominate the headlines this week.
Anything that isn’t bad news is great news.
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