“We have met the enemy and he is us.”
60% of the Perry Capital portfolio yields 5.09% with principal guaranteed. I sold my short 25% Treasury
positions
lower.
Homebuilders
“You can avoid reality, but you cannot avoid the consequences of avoiding…”
A Fed pause, or a flattening of the trajectory of rate hikes, will undoubtedly change market
valuations. It seemed slightly political for Daly and Timiraos to throw a dovish comment out there on the eve of the blackout period, but that is our world.
“You can avoid reality, but you cannot avoid the consequences of avoiding…” Read More »