The ow ShowLong Long Bon
Flywheel·2024-07-04 02:22
The Flow Show Scores on the Doors: crypto 34.5%, oil 14.4%, gold 12.7%, stocks 11.8%, commodities 9.8%, US$ 4.5%, HY bonds 2.7%, cash 2.6%, IG bonds -0.4%, govt bonds -4.9% YTD. The Biggest Picture: Biden & Trump responsible for 2 largest deficits of past 80 years (Chart 2); but inflation #1 issue for electorate, US govt spend -2% (rolling 12-month basis), fiscal excess wanes bigly in Year 1 new Presidential cycle (Chart 5); an election "sweep" scenario bond -ve, but "split" scenario Congress bond +ve…lates ...