Jerry and his Fedlines have come and gone and, frankly, they couldn't have gone much better for us. Not hawkish enough to slam price and not dovish enough to spark a crazy rally. Instead, just right for a full reversal in the POSX, a jump toward $2200 in CDG and a new closing high (for this move) in CDS.
What were Jerry's primary points?
- Slowdown in reduction on balance sheet (bullish)
- No more rate hikes expected (bullish)
- Still expecting three rate cuts in 2024 (bullish)
- Rate cut necessary as soon as BLSBS rolls over (bullish)
...
