Wall Street bills 2% for standing perfectly still
A quiet weekend is being sold as the next leap in capital efficiency.
U.S. stock-index futures barely moved on Sunday after a quiet week. Funds called the freeze a clean win for doing less with more money.
Investors are waiting for the Fed to hint at interest rates. They now sell that wait as a product. The market did nothing while the slide deck still says scale.
A fund manager on the West Coast framed the flat tape as proof the thesis is working.
We shipped stillness and called it a liquidity event.
Desks will keep the same prices until the next hint from Washington. Horizontal is the new up. Let me be clear: this is bullish.
