Grant's Interest Rate Observer
Vol 27, No. 19
James Bianco:
If you map the correlation between the carry index and the various world indices you find that "the relationships are 70% to 80%, the highest ... in 16 years.
The big key driver of these markets seems to be the ability to either get or deny carry."
(Blowing bubbles and then paring with troubles is about all they have to reach their goal of slow and/or statisitical growth. -AM)
John Paulson:
"It [the Fed] does not have an exit strategy. It rather has a set of techniques by which it could effect an exit. But it has no coherent strategy on when to use them."
(Before this is all over I bet we see Bennie Bills. Give the Fed more power and issuing debt is a hell of a way to employ a slapdash exit strategy. -AM)
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