Quotes of the Day: Bonds Look Silly Right Here

There's no pearls of wisdom, or perspective, in macro strategist Cameron Crise's morning muse, just an observation that what's happening in the debt market is getting "pretty silly":

"The recent collapse in American yields has been breathtaking, and the very nature of the price action certainly suggests some forced buying/receiving. Markets continue to think (or at least price) that the Fed is going to continue easing aggressively, and it’s a train that’s been difficult to stand in front of. It’s hard to know if this view is a result of a trading generation raised on a steady diet of central bank-supported moral hazard or a misplaced belief that rate cuts are going to boost inflation. Either way, it’s getting pretty silly."   Cameron Crise