From my macro vantage point:
- Major cracks are appearing in the foundation.
- Unless the current twin narratives of “sticky high inflation and higher for longer” change quickly, risk assets are in serious trouble.
- I’m watching the high yield OAS (among other things) closely for signs that the floor may drop out under risk assets imminently.
- Net liquidity, for it’s part, continues to contract… exactly when it needs to be expanding. The Fed is blinded by their perceived “fight” against price inflation.
Dr. Jeff / Dr. Jeff Ross
npub1k7…3c04l
2023-03-09 23:06:01
Author Public Key
npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04lPublished at
2023-03-09 23:06:01Event JSON
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