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Msg  3848 of 3863  at  9/24/2022 10:18:46 AM  by

str8_chuter


 In response to msg 3843 by  lumpygravy
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Re: It's All About the Fed

Oppenheimer author calling for LIBOR to peak at 4% NEXT YEAR?  Really?
 
3-month LIBOR has risen 342 basis points YTD, currently at 3.63%.  At this pace of ascent, 4% will be breached before year-end.  BOE is even further behind the inflation curve than the Fed.  UK printing 9.8% inflation through August and still accelerating.  Why will LIBOR magically halt at 4%?
 
IG credit gave a clear 'Sell' signal this past Tuesday when LQD hit a new low for the past 12 months.  Continued printing new lows the rest of the week.  Appears well on its way to breaching the Mar 19, 2020 low as well.
 
"...In other words, the market is pricing in a lot of bad news."
 
Yes, a lot of bad news...but likely not nearly all of the bad news. 


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