Are Markets Just Dithering?
Are markets just dithering? "Dithering" means being indecisive. Markets do seem to be dithering, don't they? Start with Stocks. They're overvalued. But that's not news, right? Despite this, they continue to press up against their all-time highs, occasionally breaking through to set a new all-time record. But then things settle down and not much happens. All of this has been dragging on for what seems an eternity - or at least feels this way. Then there's the bond market. We always look to the Treasury market first to understand what's going on there. And here we find yields have risen in a some what dramatic fashion. No dithering there. But with the 1-year Treasury having hit the 5% mark, well, there's been a lot of dithering: bit bit over, a bit under. What about the idea that bonds are in a long-term Bear Market? Shouldn't yields continue higher from here? Well, yes and no. The Yes side of the ledger may play out. But there's not reason to ex...
