He says this, everyone at the idea dinner rolls their eyes and inspects their glass of wine until they move on to a real analyst

Though that's not happening if every time we see a little dip it turns into an aggressively bought V, like this afternoon. Maybe the animal spirits are too strong.

There are parallels to 2007 though in that it was obvious for months that there were problems. Stocks just crept higher though. Combo of inertia, hope that credit market problems were temporary or contained, etc. Can get a similar feeling in tech world.

Anyways, it's a good reminder that the calendar isn't always God. Things can still happen -- the S&P was down 3% from Dec 10 to Dec 31, and then there was 2008.

Not saying this is 2007, but it's an interesting parallel.

In that case, immediately following the two week rally on Dec 10th was a fine time to get short, as was Dec 26th in the middle of the holiday lull.

Yep, with the big capital raise / "USD Treasury" I assume they'll be paid for quite a while now

How can you be a serious bond investor and be currently operating under the assumption that the next Fed chair is anything other than someone captured by the President?