Dr. Jeff on Nostr: From my macro vantage point: - Major cracks are appearing in the foundation. - Unless ...
From my macro vantage point:
- Major cracks are appearing in the foundation.
- Unless the current twin narratives of “sticky high inflation and higher for longer” change quickly, risk assets are in serious trouble.
- I’m watching the high yield OAS (among other things) closely for signs that the floor may drop out under risk assets imminently.
- Net liquidity, for it’s part, continues to contract… exactly when it needs to be expanding. The Fed is blinded by their perceived “fight” against price inflation.
- Major cracks are appearing in the foundation.
- Unless the current twin narratives of “sticky high inflation and higher for longer” change quickly, risk assets are in serious trouble.
- I’m watching the high yield OAS (among other things) closely for signs that the floor may drop out under risk assets imminently.
- Net liquidity, for it’s part, continues to contract… exactly when it needs to be expanding. The Fed is blinded by their perceived “fight” against price inflation.