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Bonds & Bullion Soar On Dismal Data Amid Carnage In Crude & Crypto
Continuing jobless claims worse in two years; industrial production's biggest YoY decline since COVID lockdowns; and homebuilder sentiment plunges back near COVID lockdown lows... but apart from that, Bidenomics is killing it!! chart ...and reflexively, as economic growth fears grow, yields decline, dollar slides, and financial conditions 'ease'. In fact, Goldman's FCI has erased more than half of the 'tightening' that occurred from Aug to Oct - that The Fed was so proud of - in two weeks. chart And all that was interpreted dovishly for monetary policy with rate-cut expectations increasing marginally for next ... (full story)