Powell is in trouble. With markets already pricing in 16bps of rate-cuts in 2019, he will have to fully 'throw in the towell' to be dovish enough to support equity's decoupling from reality... judging by stocks and bonds today, investors aren't sure.
Stocks are sliding notably in the early going...
Trannies are tanking...
And bond yields continue to slide...
Equity markets are entirely decoupled from fun-durr-mentals...
And unless something changes very soon, even the global central bank balance sheet support has faded...
Comments
Log in or sign up to join the conversation.