The Knicks are 5-28.

Just thought I would throw in the Knick’s won-lost stats as the market went into a coma yesterday. As I write this, futures are actually down as Asia and now Europe sell off overnight. What? You mean markets are actually down? After all,  Germany/France 10-yr yields hit all-time lows of 54 & 83 bps. Yes…that’s the 10 year. After all, the German 2 year yield is negative. Yup…buy a 2 year AND PAY THEM. Yup, you give them the toaster.

If you would have asked me a year ago where I thought yields would be, I would have been better off telling you the Knicks would win the championship this year. That’s why I do not predict a year out. In fact, I have no clue what I am eating for lunch today.

All I know is that the biggest bubble in history, the bond market, both here and many places abroad, continues to have distorted price and yield. I was always taught to believe lower yields were a good thing as cost of capital drops. Just not sure THESE rates have anything normal about them. Welcome to the GRM! (Government run markets!)

2 replies
  1. Penn says:

    Feel the real problem with GRM is that there is no natural market counter balance. When, not if, there is a pull back it is going to be without buffer (or Buffett) to slow the drop.

  2. Mike Pananos says:

    Knicks are like 6-8 teams in the NBA. A successful season is one where your record is bad enough to have a legitimate shot at the first pick in the lottery. A league of have and have nots. Kind of like the US. Markets are and have been for 5 years, a joke. I suspect it will continue for 2 more years. My Celtics are one of those 6-8 teams also. The only problem is they haven’t perfected the art of losing yet.

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