Traders got even more nervous on Friday, after having been twitchy all Thursday, and they alleviated this condition by dumping government bonds.
What are they seeing from their perch that we don’t?
Stalled Economy Performs Wealth Miracle, reports the Fed.
It’s not just the oil bust.
The financialization of rents.
And it’s now hitting home.
The bond market is already doing the math.
Teetering Eurozone banks exposed to flying shrapnel.
Though it cannibalizes the rest of the economy.
“Entire Swaths of our neighborhood are covered with For-Sale signs”: photos by our boots-on-the-ground Angela Johnson.