Curve Crazy Again; Or, The ‘Dovish’ Turn Falls Apart, the Culprit Revealed
Everyone went dovish after what happened in December. Convention assumes that central bankers take their cues from the NYSE. I don’t think that’s what shook everyone up, though. Curves, ladies and gentlemen. The bond market revolted and the stock market showed serious signs of catching its contagion. Since the mainstream had been expecting a booming economy, because that is what [...]
Stay In Touch