A look at the
Meme stocks and government bonds are the opposite sides of the financial market coin and they're sending completely different signals today.
US 10-year yields fell to 0.9992% and are flirting with the 1% level as equities slump hard.
Many people are reading the meme-stock madness as a sign of exuberance and late-rally behaviour.
I sympathize with the view and certainly won't go against the bond market but I don't think this is the end of anything. The Fed is the only thing that matters and so long as Powell isn't even a little bit hawkish today, the market will eventually find a footing.
