Goldilocks or Deflationary Boom?
Current markets exhibit various incompatible or contradicting themes:  Deflationary: commodities down, precious metals (gold, silver down), US dollars up, CPI is subdue at best.  Inflationary: bonds down substantially (or yield rose sharply).  Economic boom:  US stocks up, yield curve steep (Hussman: the present 2.7% difference between 10-year yields and T-bill yields is about double the historical [...]
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