TME Weekend: Duration has no friends until the data dumps

Lower growth = calm yields = equity melt-up

Seven points of wisdom from the ultimate macro guru, Dom Wilson of GS:

1. We had more softness in the data, so that slowing in growth we’d been waiting for has finally become visible

2. we’ve had refunding announcements better than feared

3. the BOJ was less aggressive

4. Fed was a bit more explicit about the impact of the tightening in financial conditions on their thinking.