But the first upticks in delinquencies from breath-taking record lows are cropping up.
So the Fed Gets Ready to Walk Away from the Bond Market, and All Kinds of Stuff Happens.
Most Reckless Fed Ever on the move finally, biggest rate hike since 2000, QT next, but too little too late.
Markets already started to kiss that easy money goodbye.
The Fed is still pumping fuel on the fire.
“It is of paramount importance to get inflation down,” she said to get markets to prepare for what’s coming. And they’re preparing.
The wealthy got immensely wealthier. Everyone else paid for it via rampant inflation.
The dollar’s role as dominant global reserve currency is at risk if the Fed fails to crack down on inflation (transcript from my podcast).
Junk bonds are still in la-la-land though, Apocalypse but not now.
10-Year yield hits 2.31%, 30-year fixed mortgage rate hits 4.66%. And why the funny kangaroo-shaped yield curve says nothing about the economy.