Feb 19/15 – The Yellowstone Grizzlies better go back to bed

Negative yielding bonds, absurdly large quantitative easing programs, Central Banks trading S&P 500 futures – there is no doubt the world has come unglued. Therefore it should be no surprise that even the Yellowstone grizzly bears are feeling a little disoriented these days.

Although we have had a brutally cold winter in eastern North America, the west h…