Ever-lower real rates required to support equity valuations—mechanical sell-off can be attributed to rising real yields Fed only cares about inflation—downtrend in markets will not revert until / unless inflation shows signs of being under control Perilous environment ahead, where equities are a compelling short and bonds a veritable minefield
$3 RRRRRRRRRRRRRRB
$3 RRRRRRRRRRRRRRB
$3 RRRRRRRRRRRRRRB
Ever-lower real rates required to support equity valuations—mechanical sell-off can be attributed to rising real yields Fed only cares about inflation—downtrend in markets will not revert until / unless inflation shows signs of being under control Perilous environment ahead, where equities are a compelling short and bonds a veritable minefield