The “peak Fed funds narrative” is all the rage. The risk rally off the October 27th lows completely overwhelmed the negative market inputs of persistent inflation, excessive indebtedness, deficit spending, weak political leadership, and increased fiscal and monetary stimulus.
ALERT – THIS JUST IN. The FDIC announced that it has received two bids for First Republic Bank (FRC). The
bidders are JPM and PNC. Details are being scrutinized, and the winner will be announced before Monday’s
market opening.
“Ooh, a storm is threatening my very life today. If I don’t get some shelter…” Read More »
I bought more bonds in the portfolio. Finally, the future is less murky. Recession odds have increased dramatically.
“The problem with the world is that the intelligent people are full of doubts, while…” Read More »