Good morning. Inflation and macro economic strength fading FAST (and so, Transitorians winning) OR another pivot and headfake. You decide. I thought a quick look at 7yy were in order … Momentum (stochastics) appear to be overBOUGHT (rates go UP or time at a price to resolve) and the range is triangulating so it would appear 7yy are poised for a break one way or another …
IF Powell can maintain a 3% FFR thru to the other side of the economic cycle, I'd call that Mission Accomplished. It's going to get dicey....I'd bet David Hay's thesis that Powell will quit the FOMC before more QE (more QE over my dead body says Powell? Hmmmm), but I do really hope he and I are wrong. Suppose we'll all know the answer long before we know the winner of 2024 Pres election.
IF Powell can maintain a 3% FFR thru to the other side of the economic cycle, I'd call that Mission Accomplished. It's going to get dicey....I'd bet David Hay's thesis that Powell will quit the FOMC before more QE (more QE over my dead body says Powell? Hmmmm), but I do really hope he and I are wrong. Suppose we'll all know the answer long before we know the winner of 2024 Pres election.
Great article !!!
Like the Grocery list....seems those prices rarely go down...
When will Consumer's Debts begin to matter ???.......2024 or never ???