Sell Any Bond Market Rallies, JPMorgan's Michele Advises

The video discusses the current state and future projections of the Fed funds rate amidst high inflation and market conditions. It highlights the challenges of achieving a soft landing and the need for rate normalization. The discussion also covers the cost of financing, the outlook for bond markets, and the impact of central bank policies on credit spreads and real yields.

What are the implications of high inflation on consumer behavior according to the text?

Why does the speaker believe it is too late for the Fed to engineer a soft landing?

What does the speaker suggest about the future of the Fed funds rate?

How does the speaker view the current state of bond markets?

What concerns does the speaker express regarding credit spreads?