Why Some Stock Bulls Are Excited About Yield-Curve Control
“While it’s impossible to isolate the impact, bulls note…”
“While it’s impossible to isolate the impact, bulls note…”
Legacy long position in US rates and duration enters “a very dangerous space”.
The title is in jest – mostly.
The long version.
“…we would need to see an unprecedented marriage where both monetary and fiscal policy align in a magnitude not previously experienced”.
The “social fabric” is “frayed”, Dimon says.
“A great and powerful plague” versus “the Fed driven liquidity environment”…
The April jobs report was a tragedy of historic proportions – an unmitigated disaster. The
But “there is no relative context to death.”
Historical precedent is no longer useful.
The historic wipeout in oil rolls on – figuratively and literally.
“Black & white memories”.
“Unhindered by moral hazard”…
As it turns out, everyone is a “Democratic socialist” when there’s a viral plague.
“Is this turning out as badly as you thought it would?”
Over the past several weeks, central banks globally have been keen to emphasize the extent
“This facility should [provide] an alternative temporary source of US dollars other than sales of securities in the open market”.
“What is happening is not a financial crisis or an economic downturn caused by the endogenous workings and self-sabotage of the capitalist system.”
So much to backstop, so little time.
“If this doesn’t work, we’re going to keep doing it until we get this going”.
You can’t get rid of the Babadook.
“The functioning of major government bond markets has been impaired”.
Now this a “whatever it takes” moment.
We’re asking silly, rhetorical questions now.
“We are all subject to the same risk management parameters.”
Including the “domino scenario”.
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