‘Margin Calls & Massive Put-Buying’ – Stocks & Bond Yields Puke As Goldilocks Dies

Existing home sales beat (bouncing modestly off record lows), consumer confidence jumped (as inflation expectations declined and labor market conditions worsened), but earnings reports from FedEx and General Mills threw some cold water on the ‘resilient’ consumer, cyclical rebound narrative. And it’s the commentary from Corporate America that has us wondering: Did the Goldilocks narrative […] Source