LIVE! Bond Market SELLS OFF! But It Will Not Last... Expect MASSIVE Debt Market PUMP. Mannarino
From Greg M
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The amount of money required to keep this bull rally fueled means the 10YY must keep dropping every day, without any set backs. The Reverse Repo Market was the only asset the Federal Reserve was using to prop up the market, as the 10YY was rising, and the RRepo Market is almost drained out. SPX could hit new yearly high's as they drain the RRepo Market, but it is insignificant, because they can't keep the bull rally fueled forever. In order to allow the Federal Reserve to print more, they must cut rates, and this will crash the market when real data finally becomes realized. Any reaction by the Federal Reserve on interest rates means that they are finally accepting data, and the data is worse than dogshit. There is also the fact that the Federal Reserve is behind schedule on rate cuts, as all the moving pieces imply that they need to cut them sooner rather than later to match with other indicators that have been signaling a rate cut since last year. The problem is that the 10YY is significantly below the FED Funds Rate, and the last time the Federal Reserve cut rates with the 10YY below the FED Funds Rate was in 1966, which sparked a unprecedented wave of inflation. No matter how you look at the situation, the Federal Reserve making any real decision will cause the market to look either way, play out the scenario, and not like the outcome. Keeping rates paused means they can at least avoid it for now, but once their assets dry out, it's over...and if their assets dry out, it could create a real Banking Crisis.
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