Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
"... When you boil down what Yellen had a very hard time distilling yesterday, the most basic market expectation implied by $7 TRILLION (and climbing) negative yielding sovereign bonds is called #Deflation.
If you haven’t understood the causal factor behind Global #Deflation all along (Bernanke devaluing the US Dollar to a 40 year low in 2011 – creating unprecedented mountains of supply and leverage on the premise that 0% rates = 0% risk), you need to meet with me."