Risk assets are unlikely to sell off until the liquidity tricks come to a halt. Another trick up the Fed’s sleeve is now adding to USD liquidity ahead of New Years. A nice present from Powell and Yellen to banks!
Steno Signals #78 – Santa Powell handing out gifts even to the naughty!
The animal spirits will likely be fully unleashed by Powell’s pivot and this is exactly what’s needed to bring about the type of complacency that is needed to foster the actual recession that everyones been talking about for a long while.
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