From a blog reader...

Sometimes I forget why I do this blog, and then something like this shows up in my inbox and kind of reminds me. I couldn't put out the fancy financial terms if I wanted to and believe me, I don't want to. So Vulgarizateur it is I guess.

This is not rocket science people, if you can just look at it honestly, and I know a lot of you do.

Thank you Philippe!

Gary,

I don't tell you often enough, but you are a great "vulgarizateur".
(Sorry, but I can't find the English equivalent to this French term).
It's meaning is a cross between education, dumbing down, rousing
interest and making complex knowledge accessible to the masses. It has
nothing with being vulgar, but I didn't think you'd mind its
etymological root.

In any case, this is the instant classic that got me writing:
"The t-bill has not told him what he HAS to do yet, but the long bond
may be about to tell the t-bill which will tell Ben."

So simple, yet so accurate.

Attached is my personal tongue-in-cheek forecast for the long rates. I
use it to meditate and calm myself down.

Philippe