As US stock markets and corporate debt markets price in boom times from here to eternity while the Treasury market is pricing imminent financial depression of apocalyptic proportions: which market is right? One of them has to be wrong. Wolf Richter of WolfStreet.com reckons it is the bond market that will find itself on the wrong side of this trade. There are no indications, he believes, within the job market or overall economy indicating any sort of recession of the magnitude being priced in at the moment. They also discuss Deutsche Bank’s ‘bad bank’ and whether or not it can ever be allowed to fail when it is so important to the German industrial sector. Tune in to hear more.
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