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Bearish but Priced In
The Compound and Friends
The Fed's Tightening of Financial Conditions
Bloomberg financial conditions index excluding stock prices is nearly 1 standard deviation tight once again akin to the lows from the 2015 2016 correction. I think you know the Fed's balance sheet is going to remain very large because at some point the banking system Just requires those reserves and of course the Fed can't sell to securities as they'll incur a loss when they okay Let's put up this Gina Martin Adams tweet. This is financial conditions She's saying after easing up earlier this year the Bloomberg financial Conditions index excluding stock Prices is nearly 1Standard Deviation Tighter than it was in late 2013 or early 2014, but that doesn't mean we're there yet. The risk is that it kind of gets a life
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