Far be it from me to let a couple of good days get me all giddy, but this freakin’ market is F.U.N. fun again. That is because it’s in motion, unlike those dreadful days of the robo-bull just grinding upward day after day making geniuses out of those who think it’s as easy as give it all to your financial adviser and let her work her magic. It’s actually not. Joe & Jane Public have probably seen enough to at least have apprehension about what might be coming in the mail from their fund companies as Q1 ends.
But the magic is all done by this guy and he’s trying his best… and this week the curtain was pulled back so we can see. Nice Toto…
Ah, but it’s a yield curve post so, check it out! We’re in motion alright and the pressure has been deflationary but today long-term Treasury bonds got hammered. Meanwhile the guy above is working his levers as frantically as he can to bring the other condition, the inflationary one, that can also drive a yield curve to steepen.
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