Thinking about the blowoff top

Oh, how the world has changed!

The threat of a mutant-inspired viral wave and lockdown still lurks in the background, yes. Even so, the balance of risks is now completely tilted to the upside in the US economy. And that means we have to explore those upside risks. What a change this is.

Risk balance framing

When was the last time we had a sustained bear ma…

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