Thursday, November 17, 2016

The Last Temptation Of Wall Street

The gap between the casino and the 'Conomy has never been wider. Truly a generation of moronic gamblers and liquidators with no fucking clue about anything else...

"Get in while you still can..."
Schwab retail brokerage:

There have been reflationary false dawns at the end of each of the past two, now three, economic cycles. Each one exhibited a ramp in bond yields, a selloff in defensive stocks, Nasdaq underperformance, cyclical outperformance, manic short-covering, irrational exuberance and financial stock blow-off...

Each false dawn was the last chance to get out, somewhat misrepresented as the last chance to get in...

One year treasury yields:

Banks (red) with USDJPY (carry currency):

USDJPY with S&P: