When you are manage $22.7 billion but forget to pay for the upgraded Zoom $ZM subscription before going live on CNBC @HalftimeReport to explain why you’re down (-26%) YTD pic.twitter.com/Z04KrCF3U2

— Kenny Lay (Parody) (@EnronChairman) February 17, 2022

That right tail matters.

The probability distribution for Fed Funds in Dec 2022 has a mean of 6.1 hikes today (orange) against 6.7 hikes one week ago (blue).

Macro land now cares more about the right tail, though.

Probability of >7 hikes:

1 week ago: 30% (!)
Today: 16% pic.twitter.com/tljoJ34hft

— Alf (@MacroAlf) February 17, 2022

U.S. investment-grade bonds have lost 5.9% so far this year, set for the worst quarterly loss since Q3 2008. The declines have been driven by rising rates, but also stem from widening credit spreads, which are now the highest since November 2020. pic.twitter.com/oC8jeRcVzq

— Lisa Abramowicz (@lisaabramowicz1) February 17, 2022

Bernanke, 2010: I think we would like to bring the balance sheet back to something...under a trillion dollars...

Paul. A trillion dollars?

Bernanke. Or less, yes.https://t.co/n2ljLR6sbJhttps://t.co/96kNh1IEXw pic.twitter.com/sVUzogGtrd

— Rudy Havenstein, catching a bid. (@RudyHavenstein) February 17, 2022

Gold back at $1,900+

First time since June 3rd, 2021

I am not a chart guy, but that looks like a breakout to me. pic.twitter.com/FylncpNGd8

— Wall Street Silver (@WallStreetSilv) February 17, 2022