New year and ball game can change quickly. Just wondering if a larger rotation is in order.
There is an overall considerable theme of what you may find
when a liquidity tide recedes as most major crises or risk pullbacks
have been precipitated by either combination of tighter monetary or
Some with a considerable lag like a year after
Greenspan departed from Fed helm, or many other examples. I'm not
suggesting NOW is a time for a compression in risk but am aware of the
possibility, especially when Fed Chairs take victory laps, Bernanke this
week. Symbolic if nothing more.
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