On Fox Business earlier this morning, Hedgeye CEO Keith McCullough discusses monetary policy and more with Wall Street Journal chief economics correspondent Jon Hilsenrath and Mary Ann Bartels, CIO of Bank of America Merrill Lynch GWIM. In discussing whether the Fed would keep rates lower for longer, McCullough said:
"If you’re a CIO and you told everyone that rates would surprise to the downside, you’re doing your job. You’re giving [clients] a much lower volatility profile and they would have a big position in the Long Bond. To me that’s the elephant stomping around in the room."