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The Rate Cut Boom
All Presidents love to talk stocks when the stock market is making record highs. It is the one asset class the public knows about. Even the iconic 1980’s movie Wall Street made it seem just that important. The Masters of the Universe are buying equities, so everything has to be awesome. The BSD’s on Wall Street were never stock jockeys, though. Never. They were the junk bond kings and derivatives shakers. Fixed income. FICC. These are the things that actually move, and describe, the world. It’s a bit conspicuous, then, how at a time when stocks are back up at their lofty record perch the President demands a 1% ... (full story)
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