Duh, That Was Dump No risk in predicting the future, so here goes: Federal Reserve DTWD - Continuing to cut rates despite the stock market on a tear at more than 2x GDP, inflation above 2%, and rising T-bond yields signaling to stop - Since the first rate cut in Sept 2024, T-bond yields have risen about 100 bps, stock-market cap-to-GDP has jumped to about 2.5x from 2.0x, on the back of about a 35% gain in the S&P 500 TR. The Bloomberg Energy Spot Index has risen about the same. So where's the inflation coming from? On a 1-to-10 scale of inflation drivers, the stock market is the 10 (about the most in a century). Energy might be about a 2 -- closer to 5 recently Reports on the Bloomberg: Gold May Be Anticipating Fed Courage or What Works for Inflation https://blinks.bloomberg.com/news/stories/tfzyh8rkv2v1 Only Major Game Left in Town: Stocks vs. Languishing Crude Oil https://blinks.bloomberg.com/news/stories/tg1t5frkv2v0 Summaries of these reports on my previous posts. #gold #crudeoil #stockmarket @Bloomberg(Mike McGlone)