Rolling rolling rolling, keep those wagons rolling. The banking issue surprised everyone? Gee, after a one day non-event of a trillion dollars? Shocking. Shocking this market is Obtuse. But the real reason is this: 1 - Debt Ceiling default countdown. 2 - Quarterly non-farm productivity PLUNGED down 2.7% 3 - Unit labor Costs for Quarter SURGED to 6.3%
That and labor being so tight there is NO WAY Inflation pressures ease. NO WAY!
The 40 years of disinflation bets will destroy every single asset class. Street is begging for a rate cut this year.