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Just what we've been warning you about.
All that financial volatility last September and October may have been the point of no return. Immediately after, curves swung from alarming to crazy. Now we see the consequences spreading throughout the real economy, hitting Asia and China reopening hype the hardest.
Eurodollar University's Money & Macro Analysis
Semiannual Monetary Policy Report to the Congress
https://www.federalreserve.gov/newsevents/testimony/powell20230307a.htm
Statement by Philip Lowe, Governor: Monetary Policy Decision
https://www.rba.gov.au/media-releases/2023/mr-23-07.html
Twitter: https://twitter.com/JeffSnider_AIP…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.