Stocks were slumping hard today, in the general theme of the global recession in the real economies.
The Fed minutes were leaked thirty minutes early this afternoon, and so the Fed released them. They cited downside risks to GDP and confusion amongst the members.
This sent the Treasury yields crashing and gave a boost to stocks off their bottom.
The risks in this market are grossly underpriced.
At some point this global recession in the real economy is going to be taking it to The Street.
And then there will be some type of reckoning of the divergence between financial fantasy and hard reality.
Have a pleasant evening.