American Bond Vigilantes are travelling across the ocean. The following chart shows the relative performance of US 10 year Treasurys and German Bunds: in lockstep since last November. The ECB's Christine Lagarde is trying to talk the yields down but, just like the Fed's Mr. Powell, it's a losing battle. Better put your monetary policy where your mouth is, aka it's not what you say that matters, it's what you do.
I find it hilarious how the market was desperate for Covid relief money and rallied or not each time it became likely/unlikely. And now that they get it, they panic about the inflation it might generate Lol.ReplyDelete
Every new job loser became a bigger spender last year, but what awaits us this year?Delete
Danke schoen :)ReplyDelete
Bitte sehr! :)ReplyDelete