The Fed Has 'Outsourced' Decision-Making To A "Politically-Motivated" Yellen, Will Run The Economy/Markets "Hot" This Year; Nomura

Beware the "Dovish Right Tail" crash-up scenario...

That's the warning/possible-scenario from Nomura MD Charlie McElligott as he notes: "many clients I speak to believe that both Stocks and Bonds have over-extended / "too much, too fast" into the start of '24, with widespread expectations of a "healthy pullback" SOON..."

Stocks and Bonds have indeed soared over the past few months driven by the triple-whammy dovish shift of: