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Economists Reduced to Making Whisky Wagers to Demonstrate Forecasting Superiority

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DAILY DEPRESSION DATAPOINT
DailyFeed
Economist David Rosenberg and investor Marc Faber have wagered a bottle of scotch whisky on whether U.S. 10-year Treasury yields can go lower than 2 percent, according to Bloomberg.

The 10-year Treasury yield (based on the TNX as a proxy) is currently 3.05%.

"“If I lose the bet, I buy him a bottle of Cutty Sark, and if I win, I want a bottle of Dalwhinnie,” Rosenberg, 49, said during a radio interview today with Tom Keene on “Bloomberg Surveillance.”"

With a barrage of economic data to be released the remainder of the week, from Initial Jobless Claims on Thursday to the  Employment Cost Index, GDP, Core PCE and U. of Michigan Confidence report among the releases slated for Friday, many economists on the street were hunkered down at their respective offices sipping whisky from brown paper bags.

The median economists' forecast for Friday's heavy release day is for liquor consumption to increase by 1.75 liters and continue into the weekend before waking up naked Monday morning in a tugboat docked illegally on the Brooklyn side of the Manhattan bridge.
POSITION:  No positions in stocks mentioned.
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