The bull case for a long winter vacation

Advertisement

From The Market Ear:

Markets have become more boring and there are good reasons that expect that it will stay like that for a while now.

Seems like everyone took a chill pill

The difference between the extremes of both sides of every argument (or trade) in the markets now are smaller than in a very long time. There are few extreme views and scenarios. You can make a decent argument for basically everything and we all seem to agree on most things, without it being too complacent or too consensus. Most of the times stocks don’t really go anywhere (“Fat&Flat”). This email will examine a number of things on the theme of “boring”.

SPX – fat and flat

Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.