Idiocy in Contridictions

Today there were two big news items that impacted both the stock and bond markets, and to me, they are condictory and show how lemming-like investors are.

First, jobs data came out with top-line print very positive and the news assessment was – no recession in sight.

Second, FED chair Powell spoke and stated that FED will be patient with rate increases (not said, because markets are spooked that recession / slowdown is nearer than originally thought).

How can both of those prompt one to invest more into stock market? Either growth is or is not slowing – can’t have it both ways.

Just in case you want to ask … I am selling into the rally and buying 3month T-Bills. I remain in trading / capital preservation mode and new investments are valuation driven (no more FOMO!)

Later comment – MarketWatch posted something very similar to what i said

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