The year is 93% done. You just about made it! This week saw a continuation of the drop in US yields as the market is pretty badly offside and rate cut expectations are mounting all around the world, especially in Europe. Inflation is collapsing and has flipped negative in some countries as the supply chain snaggles are a distant memory, demand is soft, and fiscal policy has normalized in most places. Markets entered the week in a euphoric state of mind as crypto and altcoins once again fund lambo purchases, equities retest the highs and financial conditions continue to loosen after the Treasury / Fed intervention in ... (full story)