Dalio- We’ve Just Had a Taste of What the Tightening Will Be Like
Ray Dalio via Linkedin
What we are seeing is typical late-cycle behavior, though more exaggerated because the durations of investment assets (i.e., their sensitivities to interest rate changes) are greater.
Here’s what happened.
Over the past week or so, we had reports of strong growth and rising wages (good things!), which sent bonds and stocks down (bad for most investors) due to justifiable fears that the Fed will tighten faster than is priced in the credit markets . . .
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