Michael Hartnett at BofA has good news for Australia.
Zeitgeist:“Having lunch with X and he is asking should he invest in physical gold or silver or is it too late as his wine investments have been tanking?”–brother-in-law.
The Price is Right: price action since Fed cut good for cash-needy not-for-profit tech(XBI, ARKK), bad for rate-sensitive cyclicals (IYR, ITB, XRT), employment trumps rates; “glue” that binds Wall St bull & Main St bear is credit and cracks why tactical long US dollar & zero coupon bonds smart play to hedge risk that subprime consumer contagious.
