The simplest thing that can be said about current financial market and banking conditions is this: the unwinding of this Fed-induced, yield-seeking speculative bubble is proceeding as one would expect, and it’s not over by a longshot.

Recommended by
Recommendations from around the web and our community.

INTERESTING🧐 from @hussmanjp on whether the Fed's new #BTFP program is even legal (from his terrific post here -- worth the read in its entirety: