My experience is that when flows become excessive, problems don't occur immediately, but gradually build in a manner where things seem fine until they are not. I suspect there will be another hiccup of some sort that will be glossed over by the Fed, but actually be important.
My experience is that when flows become excessive, problems don't occur immediately, but gradually build in a manner where things seem fine until they are not. I suspect there will be another hiccup of some sort that will be glossed over by the Fed, but actually be important.
That institutional inertia feeling.