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The Game Has Changed

The Compound and Friends

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The Seeds to Lower Yields and Lower Oil

Yields and oil are two of the most consistent, counter cyclical indicators historically. Here we measure the three year rolling sharp ratio, which normalizes returns for volatility on yields. That's the inverse of bond prices. You'll note that we're in the top 2 and a half percent historically, which is usually the point at which the rubber meets the proverbial road with financial conditions.

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