Hartnett: "A Fed itching to Cut"

Bonus: MS on Tesla

Housekeeping: No video walk through today

Best pain trade for bulls front-running a Fed itching to cut….buy duration”plays like biotech, solar

TL;DR

China deflation is done, Nobody thinking US recession, (he’s being a little contrarian). If so…..it may be safe to own US bonds. For now mkt lopsided short bonds on his ABB trade.

Secular bond bear will run into cyclical bull maybe. If CPI comes in very weak after today’s weak econ data, he may be correct. Corporate bonds are killing it this year. Gov’t bonds may be next…

NOTE. He is not contradicting Zoltan, himself, or our Secular stuff. He is saying, overdone bearish short term. In past this is bearish Gold. now.. not so much. lolol