TFMR Podcast – Wednesday, March 20

Jerry and his Fedlines have come and gone and, frankly, they couldn’t have gone much better for us. Not hawkish enough to slam price and not dovish enough to spark a crazy rally. Instead, just right for a full reversal in the POSX, a jump toward $2200 in CDG and a new closing high (for this move) in CDS.

What were Jerry’s primary points?

• Slowdown in reduction on balance sheet (bullish)
• No more rate hikes expected (bullish)
• Still expecting three rate cuts in 2024 (bullish)
• Rate cut necessary as soon as BLSBS rolls over (bullish)

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