Unhedged, but not unhinged

Today

Today seemed very mixed. No clear direction. The market generally is all over the shop lately. I think that the bond guys are generally smarter than the equity ones. The slope of the yield curve is a pretty good indicator of whether or not we’re heading down the pan. Late in the trading day, stocks slumped as Mnuchin seemed to say that his party and the Democrats were still far apart on a stimulus deal. The constant drumbeat of stimulus, trade deal, vaccine hopes, Fed intervention, poll numbers is just noise, as far as I’m concerned. But every announcement seems to produce a temporary spike (upwards or downwards) in equity markets. Howard Marks made a comment that markets were more overvalued than at any point in history. Nobody seems to care.

This has not had any clear trend since the beginning of the official western reaction to the pandemic:

Unhedged

I am getting more into unhedged.com. It does seem a very nice website. How so much info can be assembled for no cost is beyond me, but I guess advertising to punters is worthwhile I have a lot of anti-advertising tech in my browser, so maybe I’m just not seeing what others see. I hope it doesn’t turn into another seeking alpha (or motley fool).

My fraud portfolio on unhedged.com.

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