• morning after yesterday’s market holiday, are adding to losses. At pixel time the 10y was just off its new post-pandemic high of 1.24. As has been the case for some time, short end yields aren’t showing a pulse/are as flat as a pancake.
  • It’s the lunar new year in Asia, so a lot – but not all – markets are closed. In any case, the Nikkei is *again* adding to its bull run, rising more than 1.3% to a new post 1990 high of 30,468. If you can’t buy ‘n hold and get rich in this market, you better give up. S&P 500 futures are flattish in Asian trading. But since we’re trading just below a nice round number (4,000), it takes no genius to figure out what will happen next.
  • Bitcoin almost touched $50,000 per something, which just proves that everybody can be rich if we all just started buying.


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