
TSP Smart: The Big Pivot
While markets are these days fixated on an imminent Fed dovish pivot, out further on the horizon looms a crisis of confidence in government finance.
While markets are these days fixated on an imminent Fed dovish pivot, out further on the horizon looms a crisis of confidence in government finance.
Doug writes: So, why would risk premiums and indicators remain sanguine in the face of a yield spike and hawkish reassessment of Fed rate policy? Phrased differently, what is holding back “risk off” dynamics? A Friday evening Bloomberg headline: “Blaring… Read More ›
Powell Wednesday needed to push back firmly against speculative markets, against the legacies of Greenspan and Bernanke. After printing $5 TN, he should have demonstrated a modicum of policy symmetry by at least leaning against the “echo Bubble.” It was astonishing to see Powell instead throw fuel on a major short squeeze and dangerous market instability.