Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

Another good and timely point.
"We've heard many a Street prognosticator lately suggest that investors prepare to play the "reflation trade" ahead, as if the Fed was only recently starting to get serious about reflating the system. In essence, increase exposure to equities and reduce bond commitments. Our very humble question of the moment is why prepare to play the reflation trade now when it sure appears from the data above that the Fed began its reflation efforts in substantial earnest many moons ago? It has been happening for many quarters already. In fact, at this point, many years already. We already find ourselves in an environment of accommodation that can only be described as rare. Just what is the supposed nature of the further reflation effort to come? Get ready to play the reflation trade? Just maybe, the smarter money is getting ready to play the fact that the reflation trade has not been working as per the historical script. At least not up to this point.
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