Wednesday, February 10, 2021

Markets confused?

 We get a lower than expected inflation read. The markets jump in anticipation of more Fed stimulus for longer. The ten year drops to 1.14%, then market recedes but oil still up!

I think folks are focused on the Fed and ignoring external changes in trade. One thing they ignore is that we dig holes for a living and can export oil these days.  This is a different pattern.

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