Awash in Liquidity
Fiscal calculus, TGA & QE, the work week surge and reflation game on
When the Facts Change
During a midweek appearance on CNBC Squawk Box we described our thesis covered extensively in last week’s note When Will the Game Stop that the rally in low quality companies in the vortex of the crisis, like internet stocks in ‘03 or financial companies in ‘09, was typical for the early stages of a new business cycle. The appearanc…