Yes, this is human history's biggest duncefest without any comparison...
Treasury yields, Global stocks, Consumer staples, Utilities, Bank stocks, inventories, corporate profits, carry trades, commodities, junk bonds, growth/value are all screaming recession, but 'Conomists are ignoring the markets...what the fuck do markets know? EconoDunces all point to the corrupt "official" unemployment rate which conveniently excludes half the jobless population, including the underemployed. So when it hits zero unemployment, expect mass rioting...
The reason why Wall Street isn't panicking at this last stage of the bear market - led by recession stocks, is because interest rates are still low which according to Idiocratic logic indicates that the expansion is on track. When of course, it's the exact opposite - interest rates are .25% because the economy is getting weaker instead of stronger. In other words we're surrounded by corrupt morons...
MW: March 30th, 2016
“It is the Fed, not falling profits, that kills economic expansions and in this case it hasn’t even begun to sharpen the knife,”
Historically, at or before the time that stocks peak, the Fed is already easing...
Treasury yields with Fed Funds rate
The second (late) peak in long-term yields is usually around the peak in the rate cycle, except this time of course...
The second (late) peak in long-term yields is usually around the peak in the rate cycle, except this time of course...
