The Fed Is Changing Course, Will It Break Again?

We appear to be in an inflationary cycle, largely driven by deficit spending. As long as that deficits bigot keeps flow, init's hard to see res asets or actually all assets do anything but go up. The private sector is going to have to absorb a historic amount of duration. That means rates longined rates mechanically, just by simply and demand very likelyto go higher. So i'm not sure exactly, but i would' be surprised if we got through a year of ct without someone breaking.