Friday Workout – Rising Signa to noise ratio; Letters of Debit
- Chris Haffenden
Never underestimate the optimism of markets and their ability to distill and simplify the narrative. The Fed is done, its time for the Everything Rally, so get your risk asset buying boots on.
After briefly breaching 5% in late October, 10-year US Treasury bond yields dropped below 4.50% on Wednesday. This is the second largest draw down of the year after SVB and, as oil prices start to drop below $80, hopes are rising this will dampen upcoming inflation data.