11-20-2016, 10:57 PM
https://app.hedgeye.com/insights/55423-p...for-market
Quote:Recent moves in the market have been as surprising and disorienting as the election of Trump itself. For what it’s worth, here is my take.
Miraculously, a Trump victory has accomplished what central banks around the world have been laboring to accomplish for the last two or three years--persuade the world to believe that inflation is on the up and up. This persuasion in turn gives monetary policy traction again—by making nominal interest rates more deeply negative in “real” terms. In lockstep, fixed-rate sovereign debt (along with equity look-alikes) has tanked. Has the so-called fiscal cure arrived? Paul Krugman is sputtering with indignation that this uncouth right-wing charlatan has stolen all of this progressive thunder...
https://app.hedgeye.com/insights/55423-p...for-market