A while back I argued that economic pessimism might actually be boosting stocks, because low interest rates reflecting expected economic weakness made stocks more attractive 1/ nytimes.com/2020/04/30/opi…
It seems as if today we're seeing economic optimism driving interest rates up and stocks down 2/ cnbc.com/2021/02/25/the…
A note for anyone tempted to say NOW we need to worry about debt, 10-year real rates are still negative, and far below expected economic growth 3/ cnbc.com/quotes/US10YTIP
In fact, I'm struck by the contrast with 2009, when every uptick in rates was trumpeted as a sign of an imminent debt crisis 4/ wsj.com/articles/SB124…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
