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Bloomberg/John Authers/3-18-2021
“Could this [elevated inflation concerns] all add up to an epic ‘head fake,’ to borrow the phrase of one of my Twitter interlocutors? After darting in one direction, will we end up heading in the other? It’s certainly possible, but even if this happens it would be inaccurate, I think, to call this a head fake. Rather, a shift back would mark the moment when investors acted like Wile E. Coyote or the brontosaurus, and finally grasped that the data didn’t support the narrative, and that the rise in bond yields was going to bring down the stock market.
USAGOLD note: The stock market could head down in either instance – head fake (like the last time) or not (many including a good many financial heavyweights say this time is different). Either way, if the lemmings are about to go over the cliff, one might benefit by being the one with a golden parachute. Authers offers another must read at the link.
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