Investment Intelligence When it REALLY Matters.
The Fed Blew It Like We Predicted
Last month we discussed the fact that we felt the Federal Reserve had expressed too much optimism with regards to the progression of the economic recovery in the US.
In addition, we also discussed the fact that investors exaggerated the statements made by the Fed in its May 22 meeting. The combined effect of these misinterpretations resulted in a spike in treasury yields and a massive sell off in the bond market through July.