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The $64,000 Question: Are Fixed Income Investors Ready to Recover?
The bond market's going to wake up and say, oh, God, we're the second to card table. And is it possible it's now? It is. The Fed had a chance to end inflation now. All they had to do was stand aside, say, Oprah, you've got all that money in Silicon Valley Bank and unsecured deposits. Goodbye. But we're going to buy it. If you don't let a bank run happen and you wipe out unsecuring deposits, you basically take all that currency you created over the last however many years,. certainly a lot of it in the last three months. You either let it all go poof or you're now