The Macros are Asserting Themselves

Yesterday saw some significant downturns in the outlook for stocks.  For some time we have been talking about the extremes expected as this deflationary macro takes hold.  Those extremes that we have mentioned are $ 22 crude oil, 166 long Bond prices and a 180 Dollar.  The performance of the markets yesterday is just a step, but it has been a long time since the stock market went down significantly on FED day.

Here are our portfolio numbers that we are following through yesterday’s close.