DJMT reports “the good stuff” from Fed Gov Bernanke:
“In the past few months, long-term interest rates have risen 100 basis points or more, equity markets have been subdued despite robust earnings reports, and the dollar has strengthened…The good news is that, because of the impact of private-sector expectations about policy on long-term rates, a significant portion of the financial adjustment associated with the tightening cycle may already be behind us.”
Nothing to see here folks! Move along please . . . Show’s over.