Maybe trouble.. maybe not trouble. Look to Cramer?
You know there's a guy on twitter called reverse-cramer calls..
Rate hikes is equivalent to a patient hoping to undo more than a decade of weight gain by stopping eating altogether in hopes of losing all the weight in a few days. The result is always one and the same and it's always tragic. And yet, looking at Reynold's chart, 10Y TSYs have gone on a crash diet and haven't eaten for a near record 9 weeks, so to speak.
So there's relief in the air. What's more 'bullish' then bailing more banks out?
What an idiot I am. My wife said couldn't I wait a day? Well tomorrow's blog should be interesting shouldn't it? Everyone was expecting a nice big bounce today. The HALT OF interest rates seem to be of interest to most central banks across the world. Ok so maybe the FED will raise another 50 basis points but ohhhhhhhh is that going to hurt.
Hope you enjoyed see you tomorrow.