..you'd be glad now if you stood sidelined or stayed light on resource stocks.
Today's strong jobs report imploded rate cut expectations, moving the bond market closer to Barron's weekend prediction of ZERO rate cuts in 2024. https://cnbc.com/2024/06/07/market-backs-off-on-hopes-for-interest-rate-cuts-following-strong-jobs-report.html…
The Fed catalyzed this "inflationary" asset melt-up in March by projecting three rate cuts in 2024. This week they will update those quarterly projections. Suffice to say that if the "dot plot" comes in hawkish, they will implode global markets. Beginning with commodities and currencies.
https://x.com/SuburbanDrone/status/1799243685307039751
