Junk bonds in “extreme overvaluation,” covenant quality drops to record low, old money getting whacked as new money pours in.
And he offers an insanely good chart of the Hot Money.
Central banks have succeeded in generating a planet-wide mania.
What the Fed is going on?! Gains evaporate back into thin air from where they came.
And it’s dragging down the economy.
Fed clueless how to unscramble omelet, fears “outsized market reaction.” Other central banks keep adding to omelet. Absurdity reigns.
“We don’t see the economy being as strong as portrayed in the national media.”
Wall Street’s promise of “Escape Velocity” becomes a joke.
Kraft shareholders, $12 billion richer, should send a case of Cristal to Janet Yellen.
“Bond Bubble becomes more extreme” and stocks are “overvalued,” say 11,000 financial professionals – but where’s the dang sell-button?