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Great Uncertainty - Today's Editors' Picks

Mar. 10, 2018 7:00 AM ET6 Comments
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SA Editors' Picks

Good morning! I’m your curator, Jason Kirsch

Here are today’s Editors’ Picks:

Chart of the day: Yield Curve

Comment of the day, by contributor Eric Parnell, CFA

The movements in the yield curve particularly over the past year should highlight why investors much exercise caution and do their own homework before reacting too swiftly on any news about economic growth, higher inflation, higher interest rates and steepening/flattening yield curves. If one were to listen only to the news, they might perceive that these indicators are flying all over the place. But the reality remains that while such moves may seem dramatic in the isolation of a handful of trading days, they have still been relatively minor in a broader historical context. Put more simply, avoid being reactive and maintain your discipline amid any seemingly major market moves at any given point in time.

The yield curve may ultimately find its mojo and start sustainably steepening as the elusive hopes and dreams of economic growth and higher inflation are finally realized. But to date, the latter remains unconfirmed while the former continues to foretell an entirely different tale as evidenced by the hanging curve.

Quote of the day:

"Whenever I hear people talk about Bitcoin’s limitless future, I think about Dow 100,000. I first saw it in the old Borders bookshop at the World Trade Center. A few years later, the store was destroyed, and the book title was a sad joke. The markets lost interest in tech for years. Today all the Borders are gone, too.

Bubbles are melancholy things—swirls of lies and optimism used to hide a million unrealized yearnings. Bitcoin will crash because

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Comments (6)

Pure gold from Paul Ford. Required reading for any aspiring Bitcoin "investor".
Love the read! jm
The FED has told you they are on a path to raise rates and reduce their balance sheet. China is making noises to reduce or eliminate buying treasuries and it is not helping by pissing them off. The Treasury will probably have to sell even more Treasuries to fund the tax cut, increased defense spending, and possible infrastructure spending along with the 21 TRILLION that will have to be refinanced eventually. More supply and less demand equals higher rates unless things change, bodes ill for bond bulls like Parnell, he is the one throwing hanging curve balls, not a good pitcher to bet on.
Non-Plused profile picture
I do not envy them at all. I have had to counsel people, and help them reconstruct their lives, when they continued to go down a path that everyone told them would lead to disaster.
S A Editors
Thanks for a very well written report
BioSci Capital Partners profile picture
Thanks for a good read on Saturday. Dealing with market uncertainty is important.
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