Y’All Onboard Now?
What’s different? I have stated that Numeratorville doesn’t like it when the denominator is higher AND unstable. Just one of them “might be” okay. Both? Blech.
But now…dollar lower, yields not crazily swing around by .20% a day.
By the way, if you think it’s going higher because it’s higher since January 1? Well, it can go higher of course, but your reasoning wouldn’t be right.
Getting to the right result by mistake or luck isn’t great. Its flaws are most likely to prove itself, exactly when you don’t want: remember 2022?