The Weekly Fix: Bonds First Casualty of End of Everything Rally

Welcome to the Weekly Fix, the newsletter that isn’t complaining about a Fed that took pre-emptive action to ward off inflation and also wants to take pre-emptive action to allay a downturn. – Luke Kawa, Cross-Asset Reporter

20/20 Hindsight Capital here: As soon as negative-yielding European junk bonds made it to the front page, the “everything rally” across asset classes had to come to an end.