Fake news! Wage growth actually slowed last month, and rising yields don’t mean a tighter Fed.
The Fed warns of “further” rate hikes – but only because the economy can go “further” too.
Since TCJA, one new 2018 hike is expected. Stocks and yields agree it’s not a tightening.
US production moves to all-time highs, yet the global petroleum market keeps tightening.