Business
Risky business: The Fed, and Elon Musk, sound the alarm bells on financial markets – Sydney Morning Herald
The fact that Elon Musk could send the value of a cryptocurrency plummeting after a joke on Saturday Night Live tells you a lot about the state of financial markets….
Fed governor Lael Brainard, in a statement released with the report, referred to an elevated appetite for risk, citing the meme stock episode presumably a reference to the GameStop debacle as an example.
It isnt only equity markets where prices are near the top of their historical distribution, with Brainard saying corporate bond markets were also seeing elevated risk appetite and that the spreads of lower-quality speculative-grade bonds relative to Treasury yields were among the tightest the Fed…
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