FWIW I don't think it's already priced in
I do think conventional wisdom is a tad too apocalyptic.
But a world in which this doesn't hit profit margins is probably not a very likable outcome for consumers
I do think conventional wisdom is a tad too apocalyptic.
But a world in which this doesn't hit profit margins is probably not a very likable outcome for consumers
Reposted from
Skanda Amarnath
The initial reaction from the market is pretty muted all things considered. ~.5% on S&P, few bps on 10yr.
What's the best reconciliation:
1) It's already priced in
2) It's still not priced in
3) It's affecting the economy in ways that conventional wisdom doesn't anticipate
What's the best reconciliation:
1) It's already priced in
2) It's still not priced in
3) It's affecting the economy in ways that conventional wisdom doesn't anticipate
Comments
him at face value. Can’t ignore him either. Quite vexing.