The "death of bonds" narrative has reached a fever pitch among pundits. In my limited market experience, it's moments like this that usually wind up looking like they must have been pretty obvious trades. At that future point, it's hard to remember that it was the scary trade.

maybe the recession we're heading into is a different recession than the one we just dodged 😂🤣

let my beargasms be your buy signal

It was "too early to buy bonds". Now it must be "DEFINITELY" too early 😶

Examining air travel data and found something surprising. US passenger miles are back to pre-pandemic *levels* at 88bn miles a month. But they are 12bn miles below the pre-pandemic *trend*. Travel grows as people get richer and population grows, so the trend is the real benchmark

most of you should have less conviction

Globalization was only possible because the US Navy protected global shipping lanes. If we don’t respond with force, it will create a massive recalculation in global sourcing.

like one whole week ago "yields were going to soar because there's nobody to absorb all the issuance" but now yields are down 20% "because the fed is dovish" as usual, no shortage of 🤡pundits selling narratives AFTER the price action

long almonds supply actively being curtailed while demand is not only constructive longer term, but also inelastic what does that remind you of?