BY TYLER DURDEN
FRIDAY, NOV 03, 2023 – 04:00 PM
Best week of the year for stocks and bonds, 2nd worst week of the year for the dollar…
A smaller-than-expected (and less duration-extended) Treasury-Refunding kicked off this week’s chaos, sending bond yields careening lower (and exciting long-duration stocks). A less-hawkish-than-expected Powell helped and weaker-than-expected macro data (bad news is good news) stoked the fire more to prompt a massive short-squeeze in both stocks and bonds.
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