Nothing To See Here

US-delinquencies-commercial-industrial-loans-2016-q1

As the market soars this morning, one may wish to take a moment of quiet contemplation and examine the Fed’s chart above. The red circle marks the so-called “Lehman moment” from the last bubble collapse.

This is not supposed to be happening according to the Fed’s models and therefore it is not on Ms. Yellen’s “dashboard.”

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