In the film “Tropic Thunder,” the world called on Tugg Speedman (Ben Stiller) when the earth was on fire (asset bubbles) then went into a global freeze.
Yes, Tugg, the world is in a global freeze. Gold is on the rise again (>$1,200), European CDS (as measured by Portugal) are rising, while black gold (aka, crude oil) is falling below $27. Look at these prices since The Fed raised the Fed Funds target rate on December 16th.
European banks, like Deutsche Bank, are melting.
Global equity markets are in a state of global meltdown as well.
And the 10Y-2Y Treasury yield curve slope keeps on falling.
The prospect of negative interest rates (already in Europe) isn’t working.
The problem, of course, is that Federal Reserve Chair Janet Yellen isn’t Tugg Speedman.