We are, just now, stuck between eras. The old order -- the Reagan-age institutions built on the premise that the market can do no wrong and the government no right -- is dying. A new order, in which Wall Street plays a diminished role and Washington a larger one, is aborning, but the process is painful and protracted.
Harold Meyerson
10 Friday AM Reads
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My end-of-week morning reads: • The Credit Market Lens: Rich Spreads, Cheap
Treasuries, and an Incomplete Explanation: The evolution of credit spreads
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