Part of the market already discounts 6% Fed Funds rate.

via CME pic.twitter.com/4Z6E6qS76h

— Daniel Lacalle (@dlacalle_IA) March 8, 2023

Bulls, when this all explodes you can just write it down to a Black Swan event. And then start saving for the next time you don't see it coming.

The entire premise of this global rally – Fed pivot – was 100% fraudulent. pic.twitter.com/qO5E1ATUY1

— Mac10 (@SuburbanDrone) March 8, 2023

Bulls, when this all explodes you can just write it down to a Black Swan event. And then start saving for the next time you don't see it coming.

The entire premise of this global rally – Fed pivot – was 100% fraudulent. pic.twitter.com/qO5E1ATUY1

— Mac10 (@SuburbanDrone) March 8, 2023

As many of you know, I have felt for a few months now that the 2 year yield was the best indicator of what broader financial markets would do and why.

Today’s comments by #FederalReserve Chair Powell pushed this yield to over 5% … 1 of 2 pic.twitter.com/43F4VwF4Kh

— Mohamed A. El-Erian (@elerianm) March 7, 2023

WTI #crude futures held below $78 per barrel @Chevron CEO Mike Wirth: The world is now more vulnerable to any unexpected supply disruption as a squeeze on Russian #energy flows came at a time of limited oil inventories and supply swings.

| @tEconomics #CrudeOil pic.twitter.com/zWjISgBvAl

— Pytheas (@PytheasThe) March 8, 2023

Global trade fell into deep recession around November. China reopening has already gone bust. The trade recession itself completely contradicts Europe-is-fine and US-is-awesome-because-payrolls (we'll see about February #s on Friday).

Everything falling right where curves said. pic.twitter.com/BOxOe04j7y

— Jeffrey P. Snider (@JeffSnider_AIP) March 8, 2023

Great chart to explain how unaffordable the housing market has become.

The average monthly mortgage payment in Atlanta has gone from $320 in 2012 to just under $2,000 now. pic.twitter.com/4hosXwNK7N

— Alf (@MacroAlf) March 8, 2023