While it is always dangerous to suggest “Things are different now”, the fact is that there has never been a Fed-Treasury-Wall St cabal more intent on propping up asset prices than at present. Recent rate increases are just a reload. China has skin in this game and the status quo and may not move as dramatically as many believe. The main question is whether the “Fed put” still works.
While it is always dangerous to suggest “Things are different now”, the fact is that there has never been a Fed-Treasury-Wall St cabal more intent on propping up asset prices than at present. Recent rate increases are just a reload. China has skin in this game and the status quo and may not move as dramatically as many believe. The main question is whether the “Fed put” still works.