Cash Stays King
And apologies for clogging your Twitter timeline with my replies to your bubble stock stuff earlier. Hit an active train of thought I was in
I cannot quantify how much you've saved me in consulting fees with the breadth of your data aggregation and analysis. You really need to think of charging as you're streets ahead of wonks charging £20k to £30k a year
We're in your camp on predominantly cash/ cash like but we're dipping a toe in some US 2-10 steepener. Probably early but 2 seems anchored and 5s out seem OK. Spread seems to have a line around -85ish. Most of our positions are tucked in physical 4-5 yr Bank seniors at 6.5% gry and the 9mth Gilt yielding over 5% actual to a uk taxpayer.