The Sarcasm Report v.251

April 26, 2016
Wall Street continues to view Fed as friend not foe

Says Erik Davidson, chief investment officer at Wells Fargo Private Bank: “Short-term rates will remain ‘lower for longer,’ as we’re expecting just a single rate increase in 2016.

Truly shocking. Never heard anything like it over the past decade. Must be paid the big bucks to be able to make such bold predictions with such confidence.

Well, you heard it here first. Short-term rates will apparently remain lower for longer. If so, might want to consider closing out that long-term treasury bond short position you established back in the winter of 1981. No point being continually beaten by the dead horse.

Oh, and don't forget to learn Japanese so that you can communicate effectively in their "I Thought Shorting Long-Term Government Bonds Was a Sure Thing over the Long-Term Because There's No Way We'd Ever Get Stuck in ZIRP over the Long-Term" support group. Misery loves company.