Requiem For 2017: The Year In Charts
Cheers to you in the new year…
Cheers to you in the new year…
Of record highs and lots of other stuff.
“Can the economy handle fewer interest rate increases before rolling over? Does the ever-growing-indebted financial system continue to stall at increasingly lower yield levels? And if so, does that mean we are on the cusp of the next great crisis? Will the Fed have inadvertently tightened into the next slowdown?”
Who’s still drunk?
Unless of course every Millennial becomes a Bitcoin millionaire, in which case I suppose all of this debt will be paid off within the next 12-24 months.
Grab the torches and the pitchforks.
“Many see this action as a panacea that will spur economic growth, earnings growth and make you taller as well as providing a host of other benefits.”
“These are the things that fund managers are expected to discuss, and they are often the right things to discuss. But if you have no justifiable idea whether the process itself should or will lead to outperformance, what the hell are you actually measuring?”
Nobody pull the wrong block.
“Nah nah nah – I can’t hear you.”
This was another day dominated by crypto news, tax banter, and Donald Trump – in other words…
One small step…
Nothing too outlandish happened except of course for…
There’s trouble in market paradise.
“Maybe if I tweet about it enough”…
Better luck tomorrow.
Boy, oh boy: it certainly looks like the “rotation” trade is in full swing on Monday.
Buckle up, this could be a bumpy ride.
ABC jumped the gun (or maybe “jumped the shark” is better).
It’s the whole constitutional crisis thing.
And “50 Cent” is back.
“I recognize the actions were wrong.”
Tech bloodbath forgotten. Never mind the bonds.
“It’s the way their brains are hard-wired, and it works for them, as a species. So I pretend that chickens aren’t evil and I’m not complicit. Because I really like the eggs.”
“Pop”?
“But here is another idea. Although I agree the tax cuts are far from being priced in, what if this change causes a massive rotation out of growth and into value/financial/stocks-that-benefit-most from tax cuts, and in doing so, causes volatility to rise? If volatility rises, then for a whole host of different reasons, market participants will be forced to de-lever their stock portfolios.”
If Monday was largely a bore outside of some overnight fireworks in Asia, Tuesday made up for it.
Not exactly “exhilarating.”
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