Julian Brigden joins Jim Bianco to chat through markets and provide exciting details about their upcoming Global Macro Summit
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The Liquidity Story
When will the Fed pivot? When there's unmistakable signs that everything is falling apart, they'll cut rates and won't work. Do I want to buy stocks when that's happening? That's like the single worst time to own stocks. We're up 18, 20% year over year. We've never, ever seen that price action in the recession. The market will have to turn on this liquidity metric, which maybe raises a few eyebrows. It strikes me how Treasury has managed to refinance the whole TGA by the bill market.
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