"Like chess without the dice" is a nod towards both the world of football from where this comparison came (Podolski, Germany); and the world of stock market strategy, so often a parallel universe when forecasting is involved.

In that spirit the following chart, a current pet, does not mean anything. There is no particular reason to consider the two periods correlated (although there are obviously some ties). But it is astounding to watch it unfold as is. Especially today as the SPX hits 1261.

Exhibit 1: 2000-2002 equity & bond market versus now

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