The FT has just published a comment on recent market moves saying:
An investor consensus that took months to build, namely that robust economic growth and elevated inflation would bring about substantially higher interest rates, has been coming apart, and the pain for those caught in that trade has heightened with moves in the past couple of days.
First, who built that consensus?
Second, why did they do that?
Third, what did they hope to gain?
Could it be that there was organised action to bring pressure to bear for lower government spending that would harm the wellbeing of ordinary people but much enhance the wellbeing of the wealthy?
He believes that someone purposely builds views in markets. Rather than their being the aggregation of individual views….