The Long Game

Market moves tend to be dominated by short term players. At the moment it appears that we are looking at the second half of the 40-year supply-demand period. Later this week will will post a study that we have done on Fed influence during the 2005-2022 period.

In the meantime, all eyes on on Powell’s testimony tomorrow and inflation numbers on Wednesday. We are still in the bubble, but it is getting fragile.