In addition, the bond market and dollar took a massive chunk out of the Fed's reflation lie, which was then corroborated by Fed member, James Bullard.
When perma-optimist Steve Liesman gets worried, it's late in the game...
Both the dollar and bond yields have been under pressure this week, reflecting "reduced likelihood that the GOP will be able to advance the Trump Administration's economic agenda,"
The stock market doesn't seem as worried
All of which leaves one lie left to unravel: OPEC
With the dollar tanking, one would think that oil would be soaring, however, this week's rally ahead of the "crucial" May 25th OPEC meeting was on low volume:
Spot the difference, back in November, anxiety was high ahead of the decision to reduce output. Now, not so much:
Oil with deflation
Oil is no longer a supply side story, it's becoming a demand-side problem, as global deflation grows:
Energy stocks with oil:
