How many times are we going to hear about global risks? As I pointed out earlier, there will ALWAYS be global risks. Yet, we will continue to beat the same drum that global risks will somehow take down our economy if we ever hike rates again. We Ramped initially on the news but have now closed that entire Ramp. Remember: The first move is always wrong. So I expect some selling pressure this afternoon and tomorrow. Nothing that I can’t handle though.
We are up over 100 handles in less than a week. While I fully support that move, we need to come off a little bit so everyone can reload and the short squeeze can continue higher. Don’t be surprised if we make an attempt at 2000 before the end of February.
Below is a word cloud of January’s minutes. Foreign, bank, time, and swap stick out the most to me. Inflation is always in there. Just ignore that shit.
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