Stocks For Show, Bonds For Dough
Valuations be damned, stocks power higher. ECB and the Fed have weighed in, it didn’t matter. The glass is half-full, so is the other half.
But, the relationship is still a bit weird, a point made about a week ago. The flip side of that story: if equities continue, despite this graph, which professionals CERTAINLY observe, then what happens if bond volatility declines?
Rates look higher but capped due to the ECB (remember that the biggest investors are looking at the differences among global interest rates), and if the ECB says no tapering, then that is notable.
For now, narcotics are free.
Reminder: FEHB Live Webinar: November 8 5PM ET
Paid Substack subscribers only.
How it will work:
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On Monday the 8th, paid subscribers will receive a private link to go to the live broadcast.
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This webinar will focus on the FEHB, BUT THE PRINCIPLES will apply to all those that are attempting to analyze their employer-provider options versus the individual marketplace and Medicare. It is admittedly crazy, because the overlapping timelines can reduce the effective, decision-making window to one or two weeks. That is crazy especially when a person in the household requires healthcare services or has health complications. Just wow.
This has gotten much worse (complicated) because the ACA APTC (tax credits) are very, very high.