We have had four major forces collapse:
- Global Supply Chain
- Global Demand
- Global Energy
- Global Yield enhancement from Japanese Institutions
I expect SIGNIFICANT improvement in credit and credit tranches post March end.
For my money - April 1st is more than April’s fool day, it’s also start of some sort of normalization. Year End is massive event in Japan. Make no mistake.
UK Office of Budget Responsibility via Chair Robert Choat “gets it” - what is needed – This is 1st CLEAR voice and note from whom!
“When a fire is large enough you just spray water and worry about it later”