Fantasy: The Fed constantly reminds us they are not responsible for the growing wealth divide. Reality: The growing divergence begins when Fed’s aggressiveness pushed rates into a 20-year negative real yield era.

Fantasy: The Fed constantly reminds us they are not responsible for the growing wealth divide.

Reality: The growing divergence begins when Fed's aggressiveness pushed rates into a 20-year negative real yield era. pic.twitter.com/H7wh2z6pUg

— Michael Lebowitz, CFA (@michaellebowitz) April 1, 2021

Allow me to articulate my response to all those basing bullish narratives on PMI's…..

This strength is temporary. Consumers are spending disproportionately on goods due to not being able to spend on services.

This will change as services based businesses reopen. pic.twitter.com/ijur8Ldifn

— Avid Commentator 🇦🇺 (@AvidCommentator) April 1, 2021

Behold the record in IPOs and Secondary Offerings pic.twitter.com/FkJApRW4vv

— Not Jim Cramer (@Not_Jim_Cramer) April 1, 2021

New working paper from the Office of Financial Research:

Hedge Funds and the Treasury Cash-Futures
Disconnect

🔹 Paper points to important links among repo markets, Treasury markets, and futures markets spanned by hedge funds.https://t.co/8fLfWBYua5 pic.twitter.com/pas7P1Mkbi

— Michael Goodwell (@MichaelGoodwell) April 1, 2021

Remind me again why the Fed is still supporting anything?

Markets not functioning properly?

Corps having trouble accessing capital?

Home buyers unable to obtain low rates?

Why are they still pinning rates at 0? pic.twitter.com/j1tbbDGjWs

— Bill Hwang’s Margin Call Phone Dialer (@RSInvestor) April 1, 2021

Contrarian opinion: The Fed is the primary source of financial instability as decades of excess liquidity & cheap money create the very extreme leverage conditions that ferment the conditions for financial instability to emerge from. https://t.co/Bo8ttSaO7q pic.twitter.com/6EHxmPM1sS

— Sven Henrich (@NorthmanTrader) March 31, 2021