Bad News For That Massive Treasury Short As Goldman Slashes Bond Yield Forecasts
“We note that there has been no change to our view of Fed policy tightening, but”…
“We note that there has been no change to our view of Fed policy tightening, but”…
“…it would likely soon be appropriate to take another step in removing policy accommodation.
“The recent divergence in the performance of US Equities vs. the rest of the world is unprecedented in history.”
Hint: it’s the dollar.
New week, same issues. But let’s talk about them anyway.
“…they’re selling the coin, or the, the corn.”
Trying to process the kind of narcissistic delirium that’s behind this “strategy” is quite challenging.
“My guess is that it is later rather than sooner, but we are definitely getting closer with days like today.”
None of this makes any sense. Not a bit of it. It’s a self-referential nightmare.
“But in the frantic QE-inspired hunt for yield, nobody cared.”
“…the three channels of downward pressure on the RMB are now restricted.”
“Spillover”, “contagion”, “transmission”, etc. etc.
This has descended into farce, which is precisely what you’d expect…
Turkey’s woes are not any semblance of “contained”.
Pray for Turkey.
Make sure you know the whole story.
Why intervention won’t (and can’t) work.
It’s not without risks, of course.
It’s maddening. It really, really is.
Get ready to be “taxed”, you consumers, you.
But what does Fed Chair Donald Trump think?
“Regardless of whether this materializes, our view is that a slower pace of hiking is the right thing to do.”
“For us, this is supremely important.”
“I have never even heard of tariffs”.
If the last two weeks are any indication, “winning” a trade war with China is going to be anything but “easy”.
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