The 1994 Trade

The 1994 Trade

The 1994 Trade I was twenty-six the first time a Fed chairman convinced himself he was ahead of the bond market. Greenspan hiked in February 1994 off a fed funds rate of 3%, and…

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Buy The Hike, I Guess

Buy The Hike, I Guess

Buy The Hike, I Guess Fine. Sure. Let's do this. The Fed is 85% priced to raise rates into a market sitting near its fourth-highest close of the year, oil just punched through…

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