Investors bid the S&P to a near record high while simultaneously bidding benchmark Treasury yields to a record low. This is not supposed to happen in functioning markets, and the fact that it transpired illustrates how central banks are destroying markets. They are actively aided and abetted in this endeavor by the financial media, which […] Investors bid the S&P to a near record high while simultaneously bidding benchmark Treasury yields to a record low.
This is not supposed to happen in functioning markets, and the fact that it transpired illustrates how central banks are destroying markets. They are actively aided and abetted in this endeavor by the financial media, which distorts the news to fit a bullish narrative that has little relationship to reality.
Take, for instance, the June jobs report…
This post was published at Wall Street Examiner by Michael E. Lewitt ‘ July 10, 2016.
Follow on Twitter
Recent Comments