Friday flight to safety

Just came back from a company visit earlier this afternoon. Seems like a huge waste of time doing your homework on the fundamentals in this sentiment driven market. Or maybe it’s the opposite, the right time to do your homework on the fundamentals. Made it into the office just to see the market collapse on the screens the last 2 hr of trading in europe. Nasty. Just the fact that 290 000 new jobs in the US, which was a surprise to the expected 190 000, didn’t gain any traction in the market must have scared some people numb.

It rather seems like everyone wants out of risky assets over the weekend, so we’re glad to be deep in the deepest safe haven of all, the 10y US govt.

Now I’m gonna head out to dinner. Outside everyone already seems to have left the office.