Dead on. And thank you for the reminder/lesson that the bond markets lead equity markets. It seems I constantly need reminding that the serious money is in the bond markets.
Great post.
Thanx. Alot of people have been attacking me recently. I’m just a doofus, but I spent over 20 years working in the fixed income markets, and can tell you for sure that alot of what is being said and written (sadly, including here on FR) is a bunch of hooey.