Andy Constan on Lessons From Bridgewater, Equity Valuations and Top Trades
Macro Hive Conversations With Bilal Hafeez
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Is There a Market Clearing Race?
When money and credit is free, anyone can borrow no matter what their standards are. And so i tend to look at those things. When there's no, like two thousand and eight banks wouldn't lend, there was no credit available. Unso monetary conditions were very tight, even though rates were very low. But japan, they cut out the middleman and buy stocks. They're willing to do that. That directly hes the wealth effect without having to go through this convolutted purchase of bonds. The b o j meets later this week. I think we'll see if they do.
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