They tighten again in May and then they wait and watch. |
Today, the first auction of 30-year Treasury bonds in (almost) five years is expected to go well. |
We had thought that transparency meant efficiency in the market... and that's not what happened. The meaning of the bias within the Fed was not well understood. |
We're talking about an entire huge city and several smaller surrounding cities that will be empty for some time. It looks like we are going to have sustained prices for at least some weeks and maybe even months, and if that happens, I think that will have a pretty severe impact on the economy. |
You can see this clear, ongoing deterioration. And what's scary about this is it's still accelerating, |