June 2020 : Dead Cat? Or New Bull?

“Because of the Fed’s interventions, market prices and credit spreads don’t have the information content that we think they have. The Fed is mucking up what prices mean.” Peter Fisher, former Fed Executive VP, Bank for Int’l Settlements, US Treasury, etc. “There is a bear market out there – it’s in true price discovery.” David Rosenberg, former chief economist…

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